After price formed a double bottom at key level support, a strong bullish impulse took place breaking all barriers of the downtrend structure. Price closed this Friday with a bullish engulfing candlestick breaking above resistance along with the major descending trendline. Will be anticipating a slight pullback to retest broken resistance (61.8 fib) as new support for a further push to the upside.
This pair is important to watch as it has a strong correlation to the forex market. When price pushes up, AUD & NZD gain strength. When price moves lower on the SPX, this causes fear in the market & people move their money to safe haven assets like the CHF & JPY.
This pair is important to watch as it has a strong correlation to the forex market. When price pushes up, AUD & NZD gain strength. When price moves lower on the SPX, this causes fear in the market & people move their money to safe haven assets like the CHF & JPY.
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D1
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Weekly: Very bullish week for the S&P 500