Traders watching USDZAR and Gold while getting ready to purchase on US30.
Read about the thorough analysis our team conducted, which purchasers might find to be very fascinating. Subscribe to our station and follow us on social media if you want to stay up to date with these trends. You will receive a qualified review and comprehensive cover of market changes from this.

The US30 Performance

Is US30 about to start a new structure to the upside?

US30 is forming a bullish continuation corrective structure. This comes after the market created a bullish impulse wave and a higher high which indicates bullish momentum.

Furthermore, the market has dropped to the -2.72 fib extension as well as the demand zone where sellers would set their take profit targets. According to this price action, traders anticipate a continuation of the previous bullish impulse wave and are looking for trading opportunities to the upside.

Read More: The Bank of Canada’s (BOC) Overnight Rate

The USDZAR Performance

(UPDATE) - USDZAR invalidated a possible weekly timeframe demand zone.

USDZAR aggressively rejected the previous structure's high level of around 18.57300. This has caused the market to drop and trade below the ascending trendline.

Traders are looking at the possibilities of the market testing the previous support zone around 17.86290. As such, a retest of the trendline or a continuation pattern will confirm a further drop.

The GOLD Performance

Is GOLD about to continue the overall ascending structure? It is aggressively pushed to the upside at the back of a rather mixed NFP report:

NFP beat expectations however unemployment rate rose to 3.6% and Average Hourly Earnings dropped to 0.2%. From a technical point of view, Gold is trading between a supply and a demand zone where a retracement to the demand zone will continue the momentum to the upside. As such, traders will be looking for trading opportunities.

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