NZDUSD Provided By Weekly Forex Forecast
Hello Gentlemen and ladies,
Fundamental Analayis: RBNZ has done a rate cut and no plnas for more cuts, so NZD is strong currency. The RBNZ wants NZD to stay low, however it won't as NZD is attractive to buy now.
FEDS have hinted a rate cut, under pressure from the President and politician getting to influence feds, a rate cut is expected to be hinted in Mr. Powell speech testimony. This will crash the USD and this when NZDUSD will rally to continue the UP - Trend.
Technical Analysis: NZD has bounced from a strong resistance level, 0.6488, It was tested twice. So this is our bottom line. MA 21 is below MA 50 in H4, this is a bearish signal in Up-Trend, so we wait till Price is above MA 21 in H4 and enter a BUY at that time.
Signal: Buy when price is above MA 21 in H4. Price may take couple days sideways first with a little drop first before it breaks above 0.6650 where It will be a good entry.
Stop loss should be only below 0.6488. However a close stop loss could be used is u wish. Take Profits are shown on the chart.
Fundamental Analayis: RBNZ has done a rate cut and no plnas for more cuts, so NZD is strong currency. The RBNZ wants NZD to stay low, however it won't as NZD is attractive to buy now.
FEDS have hinted a rate cut, under pressure from the President and politician getting to influence feds, a rate cut is expected to be hinted in Mr. Powell speech testimony. This will crash the USD and this when NZDUSD will rally to continue the UP - Trend.
Technical Analysis: NZD has bounced from a strong resistance level, 0.6488, It was tested twice. So this is our bottom line. MA 21 is below MA 50 in H4, this is a bearish signal in Up-Trend, so we wait till Price is above MA 21 in H4 and enter a BUY at that time.
Signal: Buy when price is above MA 21 in H4. Price may take couple days sideways first with a little drop first before it breaks above 0.6650 where It will be a good entry.
Stop loss should be only below 0.6488. However a close stop loss could be used is u wish. Take Profits are shown on the chart.
