NZD/USD: bulls counterattack

NZD/USD: bulls counterattack

2019-11-11 • Updated


SELL 0.688 SL 0.6935 TP1 0.678 TP2 0.67 TP2 0.665

BUY 0.696 SL 0.6905 TP1 0.706 TP2 0.7115 TP3 0.718

On the daily chart of NZD/USD, a pin bar let bulls to counterattack. They are trying to form a double bottom and return the situation under control. To begin with, buyers need a successful test of resistance at 0.696 (upper border of a downtrend channel + 23.6% Fibo correction).


On H1, NZD/USD is forming “Three Indians” during a correction. A decline below supports at 0.6890 and 0.6880 will increase the risks of a downtrend’s resumption.



US Dollar: A Dump or a Correction?
US Dollar: A Dump or a Correction?

After completing a substantial 4-week bullish rally, the US Dollar closed last week with a big bearish candle, which has led to a 2.63% decline in US Dollar prices. The million-Dollar question on traders' and investors' minds: is this the start of a US Dollar dump or just a correction?

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