NZD/USD Bearish Momentum Continues...
Hello Traders
Last week, USD got gains with NFP and unemployment results.
Also, sentiment around the USD is still bullish so we believe USD is shining even more in the following week.
USD Inflation result will be crucial for market movements.
So here is why we are bearish on NZD/USD:
1- RSI and Stochastic are declining (4hr TF).
2- Price has broken a bear flag(correction zone) and will continue in bearish momentum.
3- Macro momentum is still bearish.
4- No local higher high indicates that bearish momentum will continue.
Targets have been shown in the chart.
If you like it then Support us by Like, Following and Sharing.
Thanks For Reading
Team Fortuna
-RC
(Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
Last week, USD got gains with NFP and unemployment results.
Also, sentiment around the USD is still bullish so we believe USD is shining even more in the following week.
USD Inflation result will be crucial for market movements.
So here is why we are bearish on NZD/USD:
1- RSI and Stochastic are declining (4hr TF).
2- Price has broken a bear flag(correction zone) and will continue in bearish momentum.
3- Macro momentum is still bearish.
4- No local higher high indicates that bearish momentum will continue.
Targets have been shown in the chart.
If you like it then Support us by Like, Following and Sharing.
Thanks For Reading
Team Fortuna
-RC
(Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)