We've all been bearish on NZDUSD and the Trade Balance came out negative today.
It's especially a bad news for New Zealand which it's economy is based on exports.
The price seemed to ignore the bad news and correct its way higher.
And now it's came to a resistant area which forms a Cypher Pattern.
I usually don't trade this pattern because I doubt its technical basis, but this one is backed by fundamentals so let's give it a try.
It's especially a bad news for New Zealand which it's economy is based on exports.
The price seemed to ignore the bad news and correct its way higher.
And now it's came to a resistant area which forms a Cypher Pattern.
I usually don't trade this pattern because I doubt its technical basis, but this one is backed by fundamentals so let's give it a try.
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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.