The price perfectly fulfilled my last idea. It hit the target level. FX:NZDUSD is updating lows after breaking the range zone. The main trend is bearish. I think price may go down if price makes a fake break at resistance zone or swap zone. I expect that the price fall from swap zone and retest support. My target is support 0.59080
Traders, if you like this idea or have your own opinion on this matter, write in the comments. I will be glad 👩💻
@SilviuMihaila, Because the rise of dollar is done by manipulation and has no real fundamental basis. The fact that all major currencies dropped so sharp after the announcement of the "initial jobless claim" without even a short pullback is one of the biggest oversolds that has ever happened in history. We have been through far more critical situations before but this time the crash is even worse. On the other hand, there is no evidence that the Fed will cut interest rates later than the others. DXY will soon go down and the big players are well aware of that, so they are trying to buy other currencies at low prices one last time. That's why they decided to manipulate the market after the market was revived due to Federal Reserve's dovish comment.
@Deadly_Snake I’m afraid that their greed will push dolar more higher to lower other currencies for a better low price. Drop is inevitable, but not on Monday or next week.
Deadly_Snake
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@SilviuMihaila, I agree. Unfortunately, in this situation, any scenario is possible...