Hello traders!
While analyzing NZD/USD, I see the 0/support/structure level tested MULTIPLE times. Structure has been broken for this pair so continuation in this pair can be paired but with WICKS on higher time frames we could see a stall in bearish action for a period of time. I will look for entry when highs or lows are being broken throughout lower time frames for this pair. Momentum is key.
Remember New Zealand elections were this past weekend leaving investors bracing for poorer news for this currency. Not the strongest currency so this reasoning paired with technical analysis should be extra confirmation.
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Disclaimer :
This analysis not include personal feeling/opinion, and pure base on technical analysis
Trading foreign currencies can be a challenging and potentially profitable opportunity for investors. However, before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose.
While analyzing NZD/USD, I see the 0/support/structure level tested MULTIPLE times. Structure has been broken for this pair so continuation in this pair can be paired but with WICKS on higher time frames we could see a stall in bearish action for a period of time. I will look for entry when highs or lows are being broken throughout lower time frames for this pair. Momentum is key.
Remember New Zealand elections were this past weekend leaving investors bracing for poorer news for this currency. Not the strongest currency so this reasoning paired with technical analysis should be extra confirmation.
*****************
Disclaimer :
This analysis not include personal feeling/opinion, and pure base on technical analysis
Trading foreign currencies can be a challenging and potentially profitable opportunity for investors. However, before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose.