NZDUSD - CURRENT SITUATION AND TECHNICAL BIAS
#NZDUSD
- NZDUSD has been going down very fast in recent days. The reason for that is because of the VIX UP and some strength in the dollar. Due to MARKET RISK OFF in the previous few days, COMMODITIES also fell down very fast. Because of that, every NZD BASED CURRENCY PAIR was SOLD.
- Thus, COMMODITIES are being sold quite a bit. It also affects the NZD very strongly.
- Anyway, NZDUSD can continue to BUY until the 0.6385 LEVEL. And after that, if MARKETS RISK OFF, NZDUSD can definitely break the TREND LINE below and SELL up to 0.6143 LEVEL. Keep an eye on STOCKS, COMMODITIES, VIX, DXY, MARKET SENTIMENT. Then we can get very good ENTRIES.
- NZDUSD has been going down very fast in recent days. The reason for that is because of the VIX UP and some strength in the dollar. Due to MARKET RISK OFF in the previous few days, COMMODITIES also fell down very fast. Because of that, every NZD BASED CURRENCY PAIR was SOLD.
- Thus, COMMODITIES are being sold quite a bit. It also affects the NZD very strongly.
- Anyway, NZDUSD can continue to BUY until the 0.6385 LEVEL. And after that, if MARKETS RISK OFF, NZDUSD can definitely break the TREND LINE below and SELL up to 0.6143 LEVEL. Keep an eye on STOCKS, COMMODITIES, VIX, DXY, MARKET SENTIMENT. Then we can get very good ENTRIES.