BUY NZDUSD
Technical Reasons:
1- Positive divergence on MACD
2- Breaking the neck line would confirm the Head and Shoulders Pattern on 4H time frame
3- Breaking Resistance at 0.7335 supports the bullish outlook
Fundamental Reasons:
1- USD is weak because of the Trump Decisions and FED concerns about weak inflation data which may enforce them to lower their rate path expectations in Sep
2- Comdoll is getting higher with the positive outlook for commodities prices and global growth outlook
3- RBNZ wont take any easing measures regarding the recent data albeit he would not rather also hike (neutral stance)
------------
SL should be placed below 0.7200
TP1 0.7435 - TP2 0.7500 (long term target)
Keep yourself updated with new ideas and data
Good Luck
Technical Reasons:
1- Positive divergence on MACD
2- Breaking the neck line would confirm the Head and Shoulders Pattern on 4H time frame
3- Breaking Resistance at 0.7335 supports the bullish outlook
Fundamental Reasons:
1- USD is weak because of the Trump Decisions and FED concerns about weak inflation data which may enforce them to lower their rate path expectations in Sep
2- Comdoll is getting higher with the positive outlook for commodities prices and global growth outlook
3- RBNZ wont take any easing measures regarding the recent data albeit he would not rather also hike (neutral stance)
------------
SL should be placed below 0.7200
TP1 0.7435 - TP2 0.7500 (long term target)
Keep yourself updated with new ideas and data
Good Luck
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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.
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.