Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

<b> MARKET</b> ANALYSIS <b> MARKET</b> ANALYSIS

MARKET ANALYSIS

Cutting-Edge Market Commentary for Informed Strategy Making

DAILY TECHNICAL ANALYSIS 04/01/2023

NZDUSD

NZDUSD has broken its uptrend line since our last analysis. From a long-term perspective, the price is now in a very important position if it will decide whether it will continue to be bearish or bullish.

Now from a short-term point, the price is trading sideways between 0.65129 and 0.62449.

If the price break below 0.62449 with a solid red candle, we may see a drop around 0.58835.

If the price fails to break one of the two levels, we may see the price oscillate between these levels for a while.



DXY

DXY from a short-term perspective seems to have found support at 103.43 level.

The DXY has been in a slow downtrend since September, leading to the dollar being seen as bearish. However, this is now the indicator as a good picture to follow the momentum of the dollar.



USOIL

An update to the previous analysis, usoil manages to form a double top formation and break the neckline which is the 77.22 level.

Now we may see a drop around 73.32 and 70.27.

If the price breaks above 77.22 again, we may see the price return to the highs of the double top formation.




DEPOSIT METHODS

Deposit Methods 1
Deposit Methods 2
Deposit Methods 3
Deposit Methods 4
Deposit Methods 5

Copyright © 2023 - All rights reserved.

SohoMarkets (Cyprus) is a Trade name of Vstar & Soho Markets Ltd which is registered as a Cyprus Investment Firm (CIF) and licensed by the Cyprus Securities and Exchange Commission (CySEC) under licence number 409/22.

RISK WARNING: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Vstar & Soho Markets Ltd. provides services to residents of the European Economic Area (excluding Belgium), Switzerland, India, Indonesia, Malaysia, Philippines and Vietnam.

CLIENT AGREEMENT (TERMS AND CONDITIONS) CLIENT CATEGORISATION POLICY Complaints or Grievances Policy Conflicts of Interest Policy Cookie Policy Investor Compensation Fund Key Information Document COMMODITIES CFD Key Information Document CRYPTOCURRENCIES CFD Key Information Document FX CURRENCIES CFD Key Information Document INDICES CFD Key Information Document ENERGY CFD Key Information Document METALS CFD Key Information Document STOCKS CFD Order Execution Policy Privacy Policy Risk Disclosure