In the dynamic world of financial markets, it's essential to stay updated on key indicators that can influence asset prices. In recent developments, Brent Oil has successfully achieved its projected Take Profit Level, while Bitcoin (BTCUSD) traders are anticipating a potential reaction to the upcoming labour reports this week. This article delves into the significance of these events and how they could impact investors and traders.

The Brent Oil Performance

Take Profit has reached 84.84$ a barrel.

We now wait for the resistance level at 87.05 to show the price reaction and the formation after so that we can make a more informed decision about direction. The traders that want to take more opportunities to the resistance, must do so at their own discretion.

The NZDCHF Performance

Price has pushed below several annual pivot points as mentioned before. Both the Outer Trend and Inner Trend has been respected with price still currently below the inner trend. There is a descending triangle on the daily frame, it was broken and had a small retracement but has been trending sideways. Traders can adjust their stop loss levels closer to price to maximise profits in case of any volatility to the upside.

Read More: What are Safe Haven Currencies?

The BTC Performance

27 July was our last check on this instrument, the falling wedge was recognised.

Traders should be aware and monitor the price in the next few days as the breakout can happen unexpectedly. There has been a push outside of the falling wedge which occurred on 1 August at 21:00 pm.  Monitor the release of both the ADP & NFP to see price reaction and formulation on this instrument. Targets remain the same, we wait for the breakout above 31816.52. The target was set at the same point 42547.38.

Final Thoughts On This Analysis 

The financial markets continue to present exciting opportunities and challenges for traders and investors alike. As Brent Oil successfully hits its Take Profit Level, traders need to be vigilant for potential reversals. Simultaneously, the BTCUSD pair is poised for potential reactions to upcoming labour reports this week. Watch our YouTube channel to learn more about our analysis.