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NZDUSD Technical Overview and Potential Trade Opportunities

NZDUSD Technical Overview and Potential Trade Opportunities

As we have mentioned in our previous forecast and trade ideas, NZD was one of the weakest currency against USD. We have tried to put the reasons straight and clear.

You can read the previous forecast : NZDUSD FORECAST AND TECHNICAL ANALYSIS

We have reached our target 0.66200. NZDUSD ended the week at 0.66180.

What is next? 

Midterm targets are published in the above mentioned article. Shorter term price action will be determined by 0.66200 support. A major retracement might take place at 0.65500 confirmed by Bullish Shark and Bullish Crab Patterns.

If the pair breaks above 0.66200, it is likely to test 0.66800 resistance which can be used as selling opportunity.

Trade idea will be updated and shared with the members.

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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money

 

 

NZDUSD Technical Overview: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

 

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