Retail investment and industrial demand fighting for a limited declining supply of silver.
One example is the gold price hike that fortunately they took back.
Compared to its peers in the forex, nzdusd gave its buyers a return that ranked 38th in terms of percentage change since the day prior.
It’s been a feast for bears operating on an hourly timeframe, as nzdjpy has now gone down 4 of the past 5 hours.
Compared to its peers in the forex, nzdchf gave its buyers a return that ranked 35th in terms of percentage change since yesterday.
Price action traders may also wish to note that we see a doji candlestick pattern on nzdcad.
This is a reversal of the price action on the previous hour, in which price moved down.
Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.
Relative to other instruments in the forex asset class, gbpjpy ranked 12th yesterday in terms of percentage price change.
I’d like to do more video analysis as i can fit a lot more details in.