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Trading forecast for the New Zealand dollar for the next week


Hello!

Friends, I present to your attention the trading forecast for the New Zealand dollar for the next week.

On Monday, during the opening of trading on the Forex market, I am going to sell the NZD / USD currency pair, because on the four-hour chart, the price is in a downtrend.

And on the hourly chart, several factors appeared, indicating a possible decline in the pair:

  • bearish divergence .;
  • bearish engulfing;
  • “Wedge” reversal pattern.

Parameters of a trade to sell the “New Zealand Dollar – US Dollar” currency pair:

  • sell – at the current price (provided that there is no significant gap during the market opening);
  • take profit – 0.6920 (5 points higher than the support 0.6915);
  • stop loss – 0.7010.

Everyone has a good rest and gain strength for fruitful work next week!

DFMFOREX

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