The AUDNZD Performance

Our initial setup is in play at the moment. We saw a retracement into the Golden ratio at 50.0 forming a rejection and pushing down again.

• The target is still set at 1.07388.

Please note that this should not be used as advice, but support that can assist clients to make a more informed decision. Risk Management must be applied on a strict basis.

The EURJPY Performance

The price has smashed through the take profit. Will stand by for further price action development.

Please note that this should not be used as advice, but support that can assist clients to make a more informed decision. Risk Management must be applied on a strict basis.

The NZDCAD Performance

Price looks to be pushing up again and has bounced off the fib level at 38.2. 

• The target this time around is set at a price point of 0.83590.
• Entries have been triggered at  0.81574 & 0.82211.

Please note that this should not be used as advice, but as support that can assist clients to make a more informed decision. Risk Management must be applied on a strict basis.

Final Thoughts On Today’s Analysis

In conclusion, the recent updates on AUDNZD, EURJPY, and NZDCAD provide a snapshot of the ongoing market dynamics. In the case of AUDNZD, the initial setup is progressing as expected, with a retracement into the Golden ratio at 50.0 leading to a rejection and a subsequent push downward. The specified target of 1.07388 remains in focus. Moving on to EURJPY, the price has surpassed the take profit point, prompting a wait-and-see approach for further price action development.

 Meanwhile, NZDCAD shows signs of upward momentum, bouncing off the fib level at 38.2. The target for this particular trade is set at 0.83590, with entries triggered at 0.81574 and 0.82211. These analyses and updates are intended to serve as support for clients, offering insights that can contribute to more informed decision-making. It is crucial, however, to emphasize that these updates should not be considered as financial advice. Rigorous risk management remains paramount for anyone navigating the volatile waters of the financial markets. 

Traders and investors should approach these insights with caution, conducting their due diligence and applying risk management strategies diligently. The ever-changing nature of the market requires continuous monitoring and adaptability. By staying informed and implementing prudent risk management measures, market participants can navigate the complexities of trading with a more resilient and informed approach. Subscribe to our YouTube channel today to learn more