Dow Jones hiked south

Happy Friday Dynamic Traders,

What an interesting day Thursday was! The Dow Jones produced instant results after writing the blog, it produced an opportunity to make profits of 500 pips on the downside and ended up at the 7500 level. Next major support on the Dow is at 7192. The CHFJPY has continued to be gracious and headed south a further 300 pips.

Since mentioning the EURCAD at the 50% level where it was finding resistance, it has continued up to 618 yesterday and to a key Fib reversal level today. On the 60 minute chart below you can see some signs of reversal though not fully confirmed so if you were planning to trade this, 3D would be very good to use here on a break either way.














Similarly, the EURNZD mentioned earlier this week has gained strength today, broke through previous resistance and has tagged the 2.400 value today. The 30 minute chart shows signs of potential reversal with candles and MACD.

Have a fantastic weekend, looking forward to next week as Thanksgiving in the US always make the markets an interesting place to be.

May the force be with you
Happy trading!
Bijal Shah

Read Anne's forex blog here
Read FXCPS.co.uk forex blog here

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