- NZD/USD Technical Strategy: Sidelines Preferred
- Hammer Candlestick Pattern Offers Bullish Reversal Signal
- Climb Over 0.8400 Needed To Suggest A Sustained Recovery
The Kiwi is making another assault on the critical 0.8400 barrier after a Hammer formation signaled the return of the bulls. A daily close over the critical hurdle would be required to suggest the potential for a more sustained recovery for NZD/USD. Yet some skepticism over further gains may be warranted given the backdrop of a pronounced downtrend.
NZD/USD: Hammer Offered Sign of Hope To The Bulls
Daily Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here
A Morning Star formation near 0.8343 offered an early hint at a reversal for the Kiwi. In a similar fashion to the daily, this leaves the pair poised for a run on the 0.8400 ceiling.
NZD/USD: Morning Star Offered Intraday Turning Point Signal
Four Hour Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here
By David de Ferranti, Currency Analyst, DailyFX
Follow David on Twitter: @Davidde
To receive David’s analysis directly via email, please sign up here.
Learn how to read candlesticks to help identify trading opportunities with the DailyFX Candlesticks Video Course.
Forex FundamentalsAs the world's second largest economy, China's challenge to America’s dominance includes a push to make the yuan (RMB), the world’s reserve currency. Whether it can do that now is unclear.
EconomicsOne particular barrier to trade that has received much attention of late and caused delays in negotiations of the TPP is exchange-rate manipulation, by which a country artificially devalues its ...
ForexBreaking news moves forex markets. Here are the top U.S. sites for tracking forex news.
InvestingAccess to financial information has grown with the expansion of digital news. Bloomberg and Thomson Reuters lead the pack, claiming a majority of the business information market.
EconomicsSouth Korea is the latest country to cut interest rates in an attempt to stimulate economic growth.
Forex EducationPeer-to-peer (P2P) currency exchange networks offer a viable and cheaper alternative for buying and selling currencies.
ForexHere is a simple breakdown of how to open an offshore forex account for US-based users, including legal requirements.
EntrepreneurshipA brief overview of the top apps that help forex traders with on time information, charts and more.
Investing BasicsVirtual currency is probably here to stay, but what about Bitcoin specifically? Does it have a first-to-market advantage? What are the risks involved?
Forex NewsWhen it comes to forex, some types of "fixes" are legal. But some really aren't.
- No results found.