The paths for NZD/USD

The paths for NZD/USD

2019-11-11 • Updated

Trade ideas

  1. SELL at 0.6843; TP1 0.6815; TP2 0.6775; SL 0.6860
  2. BUY at 0.6910; TP 0.7000; SL 0.6860.

NZD/USD reached the previous high at 0.6884 but failed to move higher. Yesterday’s candlestick closed below the 200-day MA. The daily MACD doesn’t confirm the recent high and the pair’s near the upper Bollinger band.


On H4, candlesticks with big upper shadows underline the significance of resistance at 0.6884. MAs are horizontal, so the pair may retest them correcting down.  


Notice that a break of resistance, although it is a less likely scenario from the technical point of view, can happen on the news. In this case, we propose an alternative bullish trade using pending orders.  


Can a recession be avoided? 
Can a recession be avoided? 

The pandemic continues hurting economic activity in China, the war in Ukraine is hitting the entire European economy, and the Fed's efforts to control inflation threaten to trigger a recession. 

British pound breakout soon?
British pound breakout soon?

Great Britain released retail sales data on May 20, 9:00 GMT+3. The reading outperformed expectations greatly (+1.4% actual vs. -0.3% forecast).

Latest news

US Stock Market Recovers
US Stock Market Recovers

What happened? US stocks ended sharply higher on Thursday, May 27, after a 7-week losing streak…

What to trade on May 30-June 3
What to trade on May 30-June 3

Next week, we expect the BOC rate statement, the OPEC+ meeting, and the Nonfarm payrolls release. Let's look at the opportunities in detail! 

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