Kiwiusd
NZDUSD Ready for a ride to 0.6900Swing trading! Here i am showing you a behind my technical analysis, you can see better why i entered in one of the better setup i had in the year. doji formations and a beautiful head&shoulder pattern
NZD/USD slips to 0.7310Daily outlook - NZD/USD slips to 0.7310
An early hours of Wednesday’s trading session confirmed that the Kiwi was rapidly depreciating against the buck in a flag pattern.
For this reason, the currency rate has expectedly bounced off from the weekly S2 at 0.7310.
Most probably, the surge would continue at least until the 0.7348 mark.
A number of major technical indicators support this assumption, pointing out that the pair is oversold. However, then the rate will have to encounter the 55-hour SMA, which might force it to step down.
If this scenario materializes, this might be a sign of formation of a falling wedge.
In contrast, if the pair succeeds to pass through it, that will confirm the relevance of the current descending channel.
But, generally, the pair is expected to continue to slip to the bottom, as 71% of traders hold short positions.
NZDUSD possible Trend in change$NZDUSD
Weekly downtrend, will be attacked,
looking for a $0.68 target, once the $0.6750 be breached
(focus in a possible big trend change pattern)
