Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Octa trading broker
Open trading account
Back

AUD/NZD Price Analysis: Bears looking for a break to 1.0390, although bullish outlook constructive

  • AUD/NZD bulls in charge on a long term and near term outlook.
  • Accumulation should evolve into a prolonged uptrend, but there is work to do within the accumulation channel still. 
  • Failures of the near-term support stricture will limit the scope for immediate breakup potential. 

AUD/NZD has been in a long period of accumulation dating all the way back to the end of the Aril 2013's bearish impulse to July 2013 lows. There are bullish signs of monthly accumulation beginning which paints an upside bias on the nearer term charts - Daily accumulation is already in play. 

Bulls have been rising an upside correction from a double bottom, 8th and 27th of Jan down at 1.0307 and bulls have avoided a right-hand shoulder H&S formation in the recent advance, riding the 21- moving average on the 4-hour charts as support. so far, a critical support structure is holding, this is located at 1.0450, or thereabouts. Today's jobs data from Australia will be critical, which could make or break the bull's dominance. 

The Big Picture: Accumulation Channel In-Play, Bullish Bias

We have seen a long period of accumulation along with weekly support. The longer the accumulation, the stronger the distribution should be with a 61.8% Fibonacci retracement of March 2011 downtrend, at least, on the cards

Close-UP Outlook

A bullish bias persists above the key support zone wh a 61.8% Fibonacci retracement target of the recent downtrend, (Sep-Nov 2019 tops). A 38.2% resistance could hold up initial attempts. 

 

4-Hour Chart Downside Supports on Up Side Failures Above Key Support

 

However, AUD/NZD has failed to hold critical support on 1.0465, but should 1.0450 hold, then the bullish bottoming of the Nov downtrend will be confirmed with an initial 1.05 handle target. Failures to hold support opens the case for a correction towards the 3rd support structure, between 1.0400 and 1.0360.

 

EUR/JPY consolidates gains from two-week top, closer to 120.00

EUR/JPY steps back from multi-day high to 120.25 amid Thursday’s Asian session. The pair surged the previous day amid a mixed play of the broad US dol
Read more Previous

GBP/USD Price Analysis: 15-week-old rising trendline on bears’ radar

GBP/USD declines to 1.2920 during Thursday’s Asian session. In doing so, the pair extends its U-turn from 50-day SMA while nearing the key support tre
Read more Next