Today, I have a real treat for the technical traders, especially those that use patterns and Fibonacci retracements. This piece is about the current situation on the GBPNZD, where we have a very handsome bearish situation with the pair respecting all major, price action principles. End of the flag S

In today’s Traders Edge Market Briefing, Tomasz found these amazing setups that we thought you’d find interesting. SP500 pauses a drop precisely to the 38,2% Fibonacci. Potentially a nice double bottom in play. Nasdaq with a similar situation but one level lower – on the 50% Fibo. DAX holds slightly

The New Zealand dollar is following in the footsteps of the risk-sensitive currencies that were pounded on Tuesday. The growing fears that China’s coronavirus epidemic and zero-covid policy would create a cocktail that threatens to disrupt the supply chain, to drive the cost. These concerns impacted

EURUSD 177 Weekly pips = 44 pips per day, 2.95 pips per hour. SPX 143 points = 35 points per day, 2.39 Per Hour. GBPUSD 119 = 29.75 per day, 2.06 per hour. AUDUSD 185 pips, 46 pips per day, 3.08 Per hour. EURUSD Per 24 Hours = roughly 60 ish pips and beats 44 pip average. GBPJPY 192 weekly = 48 pips

The GBPNZD I do expect to drop to the .9271-1.9371 (we are pretty much there) and I am looking for a bounce. This could setup an inverted head and shoulder pattern if it does happen. The 38% Fibonacci retrace to the 50% retracement is where I am looking for near term longs.