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VIDEO ANALYSIS: LOOK FOR CAD STRENGTH...USDCADIn this video update, we take a look at USDCAD and how the price is finding resistance at the key 1.3300 zone. This allows us to look for potential CAD strength moves against our weaker currencies such as the NZD, AUD, CHF and GBP. We wouldn't necessarily look at this chart to trade however as the USD is seasonally strong, but using the major currency pair to our advantage we can highlight where the base or term currency will find some strength and weakness from support or resistance points, like in this example.
Short
by BlueberryMarkets
ANALYSIS: NZDUSD AHEAD OF RBNZ INTEREST RATE DECISIONThe RBNZ announce rates this week and as discussed in our market outlook it is likely for them to hold their plans on hiking rates with growing concerns over global economics. Recently Consumer Price Index fell from 0.9% to 0.1% with Employment also sinking significantly, chances of a rate hike has started to diminish. Looking at the chart technically the weekly chart closed significantly bearish sitting slightly above a key demand zone. The current 4hr consolidation looks likely to break lower into the key demand zone. If the weekly chart can close below the demand zone, we could see the bears really take control here.
Short
by BlueberryMarkets