EurNzd could reach 1.9 by year’s end

EurNzd is a very volatile pair and for sure is very risky to trade it in the short term, however, if you take a look at the longer picture and ignore 100+ pips usually daily volatility, you can find pretty nice opportunities. I think this is the case right now…

EurNzd has been in a bull trend for quite some time and from May to August the pair formed a nice ascending triangle which was broken at the beginning of August. A retest of the broken resistance level followed, and a quick reversal after the touch.
Also, this correction from 1.8446 top is a bullish flag and once broken, would suggest continuation. This, correlated with the 1k pips target given by the triangle, could lead to a rise to 1.9.

That being said, I’m bullish EurNzd in the long term and I think the pair will reach 1.9 by year’s end.

Gold has dropped to my buy zone. Now what?

In yesterday’s comment, I wrote that although XauUsd could drop to the 1930 zone, I will remain bullish and buy the dip, and I did.
At the time of writing my trade is floating with 30 to 50 pips loss and, although I would have wanted a straight-up arrow after my buying, I’m still bullish.
As we can see from the chart, after Gold dropped under 1900, a 700 pips leg up followed and after touching the falling trend line resistance started in May, began to drop again.
So far, the drop from the recent top could be only a correction, and, with the price trading exactly in a confluence of supports given by the 50% Fibo and the horizontal level a reversal is probable
With this in mind, I will hold my trade for now and expect reversal from this point with a clear confirmation of reversal to the upside above 1940. In this case, a new leg up is very probable and I will aim for 1980 resistance.
On the other hand, a drop under this level would put a pause on my bullish scenario.

CadChf- A bottom could be in place

Since the double top back in May 2022, the CadChf pair has traded in a clear and nice downtrend.
However, although the pair is still under the falling trend line, the pair hasn’t made a significant new low after the May one, and for a month now it has been stuck around 0.65.
A reversal could be next for this pair and, considering a target at the recent 0.68 high, a nice 1:3 risk: reward could be achieved.

Keep in mind is a very slow pair!