FX.co ★ CHEATER | NZD/USD

NZD/USD

Until this week's trading period, it was still clear that the market trend was moving to the bearish side. I noticed that the price movement of the NzdUsd pair in the 4 hour time frame since the previous week was still trying to rise which seemed to be able to penetrate the important zone boundary around the price of 0.5935. This week there is drastic bearishness on amrket. In market conditions like the one above, it can be a reference for the next price journey, which in my view is in the decline zone and could possibly cross the lowest area limit in the next few days. There is a tendency for prices to experience consolidation with a slight range until the European session approaches this afternoon. The opportunity to continue the Downtrend is predicted to pass through the 0.5848 price zone or it could also fall lower than the previous position. As for the next trading plan, it appears that the market situation is waiting for the European and American sessions to be more active and busier. If you look at the economic calendar data, it is possible that until tonight the movement in the market will only be in low or medium volatility. It's best to wait until tomorrow because there is news with high volatility. That way, we will be freer and more flexible to see how the next market develops. The continuation of the movement to the bearish side may provide momentum for the downward trend in the following week which may have more fundamentals that support the continuation of the bearish trend. The US Dollar currency is still very strong when compared to the New Zealand Dollar currency.