Technical analysis prediction for the 3rd of September 2018

Instrument ; Nzd usd

Indicators; Ema200,50, Macd 12,26,9, Rsi 14, S/R

speculative position ; long position

price prediction ; 0.6950


weekly chart


Daily chart


Nzd usd mkt trend is strongly bearish bias and technical view on the weekly chart indicates strong downtrend in the recent months and in long term speculation i expect the currency pair to retrace uptrend, Ema signal is downtrend, Rsi(36.95), Macd signal is downtrend, on the daily chart, the currency pair remains bearish bias, and at the bottom price level, i expect retracement uptrend likely towards 0.6950 level in near term, Ema signal is downtrend, Rsi(42.64), Macd signal is uptrend and prediction for the 3rd of September 2018 is 0.6950
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