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Trading ideas for EUR/USD, NZD/USD and DOW 30

August 25, 2021

EUR/USD: The euro rose slightly against the dollar on Tuesday. Though investors await the Fed’s Jackson Hole symposium on Friday, the general fundamental background remains on buyers’ side.

As for the macroeconomic data, Germany reported Gross Domestic Product rose more than expected which suggests rapid recovery of Germany’s economy in the second quarter as the easing of COVID-19 curbs spurred consumers to dip into their savings piled up during the lockdown. At the same time, the government continued its massive debt-financed stimulus. The local resistance level can be seen at 1.1760. A breakout to the upside could take the pair towards 1.1800.

BUY STOP 1.1760/TP 1.1800/SL 1.1725


NZD/USD: NZD/USD pair continued a strong uptrend on Tuesday and reached a new weekly high on positive dynamics of the Retail Sales quarterly release. The published data turned out to be better than expected. Retail sales rose 3.3% on a quarterly basis, well above market expectations of 2%, according to Statistics New Zealand. Westpac’s research note says that the domestic economy is in good shape – monetary policy continues to support the economy, the housing market remains hot and the labor market is healthy.

In addition, the risk-positive market environment continues to drive the NZD/USD upward. The local resistance level can be seen at 0.6965. A breakout above this barrier could take the pair towards 0.7061.

BUY STOP 0.6965/TP 0.7061/SL 0.6927


DowJones 30: DowJones 30 slowed down its positive dynamics seen on Monday’s session. Positive sentiment was triggered by the news that the US Food and Drug Administration had approved a Covid-19 vaccine developed by Pfizer and BioNTech. Investors hope this will lead to faster vaccinations, as the highly contagious variant of the delta has raised fears of a US economic recovery.

The list of economic data is centered around the housing market, with new home sales in July. New Home Sales came in better than expected, rising 1% versus -2.7% expected. The local resistance level can be seen at 35400. A breakout above this barrier could cause the index to reach and rewrite a new all-time high at 35543.

BUY STOP 35400/TP 35543/SL 35300