Pay attention to the following currencies that are approaching targets: EUR/JPY, EUR/NZD, NZD/USD are the ones to notice.
Here's the most recent update: The US dollar is stagnant in comparison to other currencies — EUR/USD up to 0.9719, gaining 0.18%. AUD/USD up 0.2%, trading at 0.629.
What is a Price Target?
A price target is the projection of an asset's future price. The concepts of trading levels support and resistance are undoubtedly two of the most highly discussed attributes of technical analysis. These price rates, or targets, are used by traders to refer to price levels on charts that tend to act as barriers, preventing the price of an asset from getting pushed in a certain direction. Assets that are on a trend and are nearing one of their lines are selected for this article. Take a look at these currencies and their price targets.
Euro-Yen targets 142.59, currently only 9 pips away
After closing at 142.48 yesterday, EUR/JPY began today at 142.48 with significant bullish sentiment driving EUR/JPY's price action higher. So far today, price action has drawn out a distinct 142.2 to 142.72 range. Today's gains are adding to Euro-Yen's a 3 day bullish trend, during which it gained a total of 112 pips.
Having set a significant high of 144.69 7 months ago, Euro-Yen is trading 13.94% lower.
Euro-Yen's recent run now faces a major challenge as concentrated supply is likely found at 142.59 with price action currently 9 pips away.
EUR/NZD is trading at 1.7285, its target level is 1.7261
A persuasive break of this target could lead to higher losses.
EUR/NZD has been losing ground for 3 days, shedding a total of 0.794% of its value. more of the same today: struggling to find upward momentum, EUR/NZD has shed 26 pips to currently trade at 1.7285 as it ranges between 1.727 and 1.7336 so far today.
The New-Zealand Dollar targets 0.5622, currently only 1 pips away
After closing at 0.56 yesterday, the New-Zealand Dollar began today at 0.56 with significant bullish sentiment driving the New-Zealand Dollar's price action higher. So far today, price action has drawn out a distinct 0.5594 to 0.5623 range. Today's gains are adding to the Kiwi's a 3 day bullish trend, during which it gained a total of 35 pips.
Having set a significant high of 0.7197 3 days ago, the Kiwi is trading 0.64% lower.
The New-Zealand Dollar's recent run now faces a major challenge as concentrated supply is likely found at 0.5622 with price action currently 1 pips away.