Analyzes

The NZD/USD is trading within sight of the 0.58100 ratio as holiday trading dominates the Forex market and large financial players are absent from the landscape.

This is turning out to be a massive engulfing bearish candlestick that could create more selling, and if we drop below $70, I think things could get ugly quickly.

The 0.79 level is an area that we’ve been watching for a while here, and it’s acted like a basement, for the market.

For me, the 1.1875 level tells me everything. If we break above there, then the Euro continues towards 1.20 and beyond.

Morgan Stanley just reiterated that they expect data centers to continue to demand Nvidia hardware, and as a result, the AI scenario is still very bullish.

The USD/BRL finished yesterday’s trading slightly above the 5.5700 ratio, as holiday trading hits what is historically a low volume currency pair to begin with as speculators look for opportunities, but likely struggle to find any.