Possible long position available for NZDUSD. I have been away for. a while but as soon as I jumped on a couple of days ago, I had already predicted and drawn that parallel channel before the last 3 daily candles came out. We can see a strong push to a strong support zone which could indicate that a reversal will be occurring. I have set a tiny stop loss of 17 pips...
As illustrated, the pair has reached the bottom trend line (4HRS and 1D), and has shown a rejection of the linear level through the long lower wick .
The formation is able to demonstrate that the Bears in the market had tried to push the market much lower but had been rejected following on from the candle closure that had occurred as of 6PM (UK Time). This...
Good afternoon traders,
Looking at a severely oversold New Zealand dollar versus US dollar on multiple time frames. Most appealing to us is the daily timeframe but almost all time frames confirm the oversold nature of this pair after the recent inflation print disappointed. 0.1% versus 0.3% expectation. This led for the New Zealand dollar breaching key levels...
This pair is the New Zealand Dollar vs. the U.S. Dollar. It is often referred to as trading the “Kiwi” because the $1 coin depicts the Kiwi bird. In 2012 the Reserve Bank of New Zealand intervened to devalue the Kiwi because it had appreciated so much. It is the 10th most traded currency in the world.
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