The financial markets are constantly in motion, with assets and instruments shifting and changing in value based on a multitude of factors. For traders, understanding these changes and being able to capitalize on them can be the difference between success and failure. Recently, three major assets - the NAS100, US30, and AUDNZD - have completed their setups, presenting potential opportunities for traders.
The AUDNZD Performance
(UPDATE) - AUDNZD completed the bearish setup.
AUDNZD continued to drop since the previous commentary and recently bounced from the demand zone. Traders are now out of the market as the recent price action completes the bearish setup. At the moment traders are waiting for more price action to confirm a rally to the upside or a continuation to the downside.
The NAS100 Performance
(UPDATE) - NAS100 is now trading at the previous high.
NAS100 completed the bullish setup after it recently hit the previous structure high. Although the structure and trend are still bullish, traders are out of the market and believe that the trend will continue to the upside. As such, they are waiting for bullish trading opportunities.
Ther US30 Performance
(UPDATE) - US30 is trading at the top of the structure.
US30 continued to rally to the upside since the previous commentary and recently completed the setup as it's trading at the top of the structure. Traders are still bullish and believe that the market will continue to the upside according to the overall structure. As such, traders will wait for more trading opportunities to the upside.
Final thoughts on today’s analysis
Finally, the AUDNZD is a currency pair composed of the Australian dollar and the New Zealand dollar. This pair is known for its volatility and can be a good choice for traders looking for short-term gains.
Recently, the AUDNZD has completed a bearish setup, indicating that the pair may be poised for a downward trend. This setup includes a break below support levels and a bearish crossover of the MACD indicator. Traders who are bearish on the Australian and New Zealand economies may want to consider shorting the AUDNZD.