The price is below the moving average MA 200 and 20 MA, indicating the downward trend. The MACD is below the zero level. The oscillator Force Index is below zero level. If the level of support is broken, you shall follow recommendations below: • Timeframe: H4 • Recommendation: Short Position • Entry Level: Short...
The NZDUSD has rallied from its recent lows and formed a double top as visible in this H1 chart. This pair was driven by strong momentum and the correction should be stopped at its support line from where it can launch a second attempt to breakout to the top. MACD has been bullish and supported the rally from its lows. Due to the strength in momentum, this pair may continue its general uptrend after the correction. RSI has reached overbought territory and hints at a pullback as well in order to keep the rally alive. We recommend...
The NZDUSD has rallied from its recent lows and formed a double top as visible in this H1 chart. This pair was driven by strong momentum and the correction should be stopped at its support line from where it can launch a second attempt to breakout to the top. MACD has been bullish and supported the rally from its lows. Due to the strength in momentum, this pair may continue its general uptrend after the correction. RSI has reached overbought territory and hints at a pullback as well in order to keep the rally alive. We...
The NZDUSD has rallied from its lows as visible in this H4 chart. The rally was halted by double resistance. The first resistance comes from its previous highs which caused this pair to correct to the lows from which it launched its current rally. The second resistance is provided by its 200 DMA. MACD shows that momentum has faded during the recent rally which does not support any future move higher. RSI has showed the same weakness, but has not yet reached overbought territory. Despite that this pair is prepared to move lower...
The NZDUSD has rallied from its most recent lows and formed a rising wedge formation as visible in this H4 chart. The pair currently trades at the upper resistance level and the two most recent candlestick patterns formed a hammer as well as inverted hammer formation which are both two extremely bearish signs given their position. MACD has formed a negative divergence and shows that momentum fades away. We expect this pair to breakdown into its 200 DMA. RSI has reached overbought territory and formed a negative divergence as...
