NZDUSD Buy Potential
Pair showing resistance around 0.65 psycho, showing potential early signs of a reversal to the upside subsequent to the 280 pip drop from last week.
Confluences: rejection off daily TL + 0.65 psycho handle + oversold conditions + DXY downside rally subsequent to reaching 2 year highs and breaking through key levels.
Alternative view: Need to stay wary due to US China trade tensions which can cause spikes and may indeed cause the pair to drop further to the downside towards the October 18 low. This has also been considered in the analysis and can be seen on the chart;
DXY:
Pair showing resistance around 0.65 psycho, showing potential early signs of a reversal to the upside subsequent to the 280 pip drop from last week.
Confluences: rejection off daily TL + 0.65 psycho handle + oversold conditions + DXY downside rally subsequent to reaching 2 year highs and breaking through key levels.
Alternative view: Need to stay wary due to US China trade tensions which can cause spikes and may indeed cause the pair to drop further to the downside towards the October 18 low. This has also been considered in the analysis and can be seen on the chart;
DXY:
Trade closed manually