Trade the bottom in New Zealand now or the story different this time?

New Zealand a hint of what is coming in Forex markets?

Today I want to focus on a pair that may not be so common, and do not emphasize it, because it is not in favor and headlines, but it is a big but perhaps it can show us what is going on beneath the surface in the area of currency trading against the dollar, And hint at the future of the strengthening/weakening of the dollar against other currencies.

Almost two years that NZD (kiwi) is traded narrow strip between 0.6840 to 0.7460 +_ , it’s a 600 pips strip between low and high, Is there a chance that an exit from the field will signal to us something big about to happen in the foreign exchange market?
In my opinion, yes and definitely – as early as 2016 I brought up a scenario and a forecast for further movement in New Zealand – the scenario was implemented accurately, He did not succeed in climbing the high levels of 2016 and falling, now we are again at the bottom of the range
If this time, he breaks down clearly and clearly, we have here a potential for a beautiful and rewarding movement,
On the other hand, if not, then again you can play on the range, and take corrective motion up with a stop on the low.
If you ask me, then according to the graph and the technical tools that I use, the chances of a strong move down are higher than the chances of going up,
In any case, be alert, it is worth keeping a close eye on the levels at which they are currently traded

 Pay attention to the pattern – it could be that we see here Gartley pattern’ this the situation so we should expect to see lower number below the last lows, while a break above 0.7340-0.7460 could take him to 0.79 area
The NZD/USD might need to see further strength to move above the 0.7340-0.74400 resistance, which could indicate make new highs at 0.79 area; break below 0.6940+_ may expose what could be another step down below the previous lows key resistance area below the 0.6760 level

This review does not including any document and / or file attached to it as an advice or recommendation to buy / sell securities and / or other advice

Leave a comment