Indicators: RSI, Volatility, Volume, HMM
Key price levels : 0.68187 0.70981 0.71801
Weekly Charts pattern : resistance and support lines, W1 Chart.
The pair NZD/USD is moving in a bearish dynamics with a resistance line at 0.71801. The chart analysis integrated with the Hidden Markov Models Analysis, the RSI indicator support the trend. The RSI and the Standard dev also support the trend. The US GDP can facilitate the NZD bearish regime.
The D1 scale indicates that the patttern is in a bullish channel with a support at 0.68187. The trend can lead to a the objectives at zone at 0.69058 . The Hidden Markov Models Analysis and the RSI are coherent with a slightly bearish regime.
To give an evaluation of the possible movements of the cross it is utilized the Hidden Markov indicator techniques.
With the combination of the price lines and the stochastic Hidden Markov Processes are indicated two possible forecast value.
- The forecast value in the bullish is valued at 0.71801
- The forecast with the bearish cycle is valued at 0.69058
Figure 1 describes in a W1 trendlines with the key price levels.
Figure 2 exhibits the hypothetical path and the forecast value
Considering the slope of the trends, the key level price and the possible retracement it can be evaluated a forecast price level at 0.69058.