Dow Jones continued to climb and broke previous high 23900 last Friday as the market reopened with a huge upward gap. The price has ranged throughout the week and lower highs started to form too.
The dollar climbed through the week despite extremely weak employment data. The NFP result was pretty much expected and the market could already have digested the fact way before the release. D
The dollar had one of the biggest falls in more than a decade but not with surprise. It had one of the biggest surges just the week before and therefore the magnitude of the pullback is just understandable.
NZDUSD has been on the rise since it found support and rebounded off from a 4 year low around 0.6200. In the process of the rebound, the price has broken a few critical resistance levels such as the 8-month falling trendline.
EURUSD fell first as expected but was failed to discover any strong support for a strong rebound. As a result, a fake break at the top of the 18-month falling channel was confirmed and EURUSD fell last week. An ascending triangle was formed in the process and price is just about 40 pips away from the bottom of the pattern. S
AUDUSD has broken above a 12-month falling trendline last week and has begun its retracement. As of current, the price has pulled back to the trendline again but the pullback seems to be unfinished too.
A trend is currently due for the gold. Gold has been consolidating for more than 3 months now and it's clearly coming to an end. The price did attempt to break out of the consolidation into a trend last week but got rejected again at 1483. However, the lows are going higher and shall remain bullish as long as the price doesn't break below the 4-month demand zone from 1447 onward. T
While ADP has turned out surprisingly weak, the gold faced resistance and failed to gain further.As such, the market is most likely to wait for the actual NFP data this…
Last week, EURUSD broke out from a minor range and fell towards the previous low at 1.1000 area.Yesterday and up till now, there's obvious support which may cause the price…