Major Reversal for NZDUSD Long

New Zealand Dollar/U.S. DollarFXCM

Description

⋅ Sep 11, 2018 2:38 PM

D1

Price is currently testing weekly support zone, which also falls in the 1.414 fib ext zone.

RSI and MACD both at oversold, and divergence can be spotted.

If price respects the support zone, then expect price to go up

Trend Analysis Chart Patterns

Comments

Jamal92

⋅ Sep 11, 2018 3:08 PM

The ongoing trade war with China and The US is the thorn of any strength of NZD and AUD. Technical's can only go far but if a deal can be met between these two countries expect a catapult of strength and a recovery of at least 300+ pips MINIMUM.

delphiguy23

⋅ Sep 12, 2018 2:00 AM

@Jamal92, Thanks for the comment. Still a newbie here, and fundamental is my weakest point. Are you saying that because of the US-China trade war that the AUD-NZD will weaken?