NZDUSD

The NZDUSD has been trading bullish for sometime now. Since our previous NZDUSD post the market has been a strong bullish short term trend. however, we’ve seen the NZDUSD price action come to a sudden stop at level 0.066960 .Our analysts believe that this level has now become our new Lower high, with price failing to break past previous lower high which could’ve shifted our view of where the market is headed.

NZDUSD H4 chart 17 August 2020
NZDUSD H4 chart 17 August 2020

With that said. It is safe to say the NZDUSD could still have its old plans of a bearish move. Looking at the daily chart, you will notice that the NZDUSD long term price action is actually a bearish trend.However, we can only confirm this movement. If our short term trendline has been broken according to price action and the breaking rule. We are only sure of this if price moves past level 0.65279 which is currently our previous higher low for the short term bullish trend.

NZDUSD Daily chart 17 August 2020
NZDUSD Daily chart 17 August 2020

If price action does this. Then we can prepare to trade price to the lower low at level 0.54690 . This move from level 0.65279 to the lower low is approximately 1000 pips. This could serve as a good opportunity for investors and traders to actually make more money. We cannot forget to mention that within these levels are sub levels where we think price might struggle to break past. We will be reporting this movement as price moves past these level. For more information join our smart signal plan

NB: Warning 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. Consider position sizing before entering a trade and manage your risk accordingly. Please read risk warning before deciding to trade the markets.

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