Forex Forecasts: NZDUSD an opportunity to Sell
After the strong rise of the NEW ZEALAND DOLLAR / U.S. DOLLAR pair, due to the big push that the dollar experienced against most of the major currencies.
The correction started after the reversal candle on the weekly frame, which actually supports the presence of a down correction.
In the short term, the pair was able to break an ascending channel on the hourly frame, as well as forming a head and shoulders reversal pattern, and was able to break the neckline.
A retest of the neckline and a broken ascending channel is a good opportunity to sell from 0.7028.
Goals, respectively, 0.6902 and 0.6814
The correction started after the reversal candle on the weekly frame, which actually supports the presence of a down correction.
In the short term, the pair was able to break an ascending channel on the hourly frame, as well as forming a head and shoulders reversal pattern, and was able to break the neckline.
A retest of the neckline and a broken ascending channel is a good opportunity to sell from 0.7028.
Goals, respectively, 0.6902 and 0.6814
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.