4hr, a huge bearish inverse hammer started the trend + 4 hr trendline + 30 ema provide support + 200 ema long term uptrend
4HR/ 1HR TRENDLINE ABOVE CONSOLIDATION AND A HUGE BEARISH INVERSE HAMMER SHOWED BUYERS REJECTION. 200 EMA PROVIDE ANOTHER SUPPORT. SINCE 4HR ALSO, BULLISH MARKET MAY GO UP
NZD/AUD is approaching a robust congested area at around 0.925. A downwards channel sees a possible move further lower may see the pair come a level below 0.9. However, an action lower will be dictated on which economy puts the brakes on monetary stimulus first.
Monetary policy dictated by the state of the economy
During the peak of the Coronavirus, the best...
The NZD/AUD currency pair found a base at 0.9176 on the 8th of October after it’s most recent decline and has since reversed to the upside breaking through key resistance at 0.9329 on Monday of this week. Today marks the day the pair tackle the 200 DMA resistance line, which was last attempted on the 20th of April this year, where it failed resulting in a...
You have to be careful and analyze the price action before making the decision. We must think that nobody knows what will happen. I'm just trying to put the odds in my favor. Then the price will do what it has to do.
So let's see what happens.