Technician
Short

NZDUSD: Near term downside favored #forex

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
1915 8 29
It's likely that the NZDUSD             continues to move lower in the near term.
  • The price has broken 0.7550 support zone, which turns now to a resistance that could limit the upside.
  • The price has broken the rising trend line for the latest main bullish correctional wave
  • The 50 days simple moving average was taken as well.
  • Breaking back above 0.7575 with stability could negate this scenario
  • Downside targets are illustrated on chart

Good luck
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SharifAzadeh
2 years ago
Greetings Dude,

The massively dovish RBNZ statement should support this bearish scenario. I think breaking the yearly low is not far off.
Reply
Technician TOP SharifAzadeh
2 years ago
Yep, add to that the disappointing weak employment numbers.
-1 Reply
Technician TOP Technician
2 years ago
We just need some not bad numbers from U.S.
-1 Reply
SharifAzadeh Technician
2 years ago
With 80% of American employees in the service sector and with such good numbers seen on the employment part of the ISM non-manufacturing PMI report, my bet is that NFP will be something between 190K to 230 K, which is good enough to revive the bullish forces in DXY.

Regards
Reply
Technician TOP SharifAzadeh
2 years ago
Yeah, Hopefully..
-1 Reply
Hit_N_Run
2 years ago
Perfect
Reply
PriceActionTrading Hit_N_Run
2 years ago
Wonderful
Reply
Technician TOP PriceActionTrading
2 years ago
Thanks Man :) .
-1 Reply
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