NZD/USD new pattern is revealed

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 63% 59% 6.35%
Shorts 37% 41% -10.81%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Sell
RSI (14) Neutral Neutral Buy
Stochastic (5; 3; 3) Buy Neutral Neutral
Alligator (13; 8; 5) Neutral Sell Sell
SAR (0.02; 0.2) Sell Buy Sell
Aggregate

In the aftermath of the break out to the downside by the NZD/USD pair, a new junior descending pattern was discovered on Wednesday. Namely, there exists a pattern, which has guided the currency exchange rate since the bounce off from resistance that occurred at the start of Tuesday's trading session. 

However, judging by the range of the new pattern and the previous, it can be deducted that these two pattern represent junior movements in a larger scale pattern. Although, the exact trend lines of the larger pattern are still not clear.

In regards to the short term future, the rate is set to surge up to the 0.6820 level, where it will meet the junior patterns resistance together with the 100-hour SMA.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (callback request)
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (callback request).
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.