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It’s the mother of all markets, making all other types of trading possible. Every three years the Bank of International Settlements releases its survey of foreign exchange and OTC derivatives markets.
A world of Trading assets

TD Markets Daily Market Commentary

Authored by TD Markets
14.12.2022
Technical Analysis
0
2 min

AUDNZD.

AUDNZD is currently trading at the bottom of the ascending structure. This area aligns with the support zone around 1.05684 which ultimately adds to the confluence. Furthermore the previous week's candlestick formation indicates that sellers are getting out of the market. As such, traders are waiting for this week's candlestick to close as a rejection and to confirm a trading opportunity to the upside.

GBPCAD.

GBPCAD has rallied up to the resistance zone and the trendline. This has been a very important zone in the past as traders have been buying around this zone until the market broke and aggressively dropped. Combining this with another resistance in the form of a trendline adds to the confluence and as such, traders anticipate a drop and trading opportunities.

CADJPY.

(UPDATE) - CADJPY completed the corrective structure and rejected the trendline before dropping +100 pips. This price action confirms a continuation to the downside more especially since the market is trading below the support zone. As such, traders are still bearish and looking for more trading opportunities to the downside.

Authored by TD Markets
14.12.2022
Technical Analysis
0
2 min
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