Flag on NZD/USD

Flag on NZD/USD

The NZD/USD currency pair has moved up after a long fall. Kiwi has updated local highs. The current technical pattern indicates a further recovery of NZD/USD quotes. The confirming signal is the classical figure of Flag (H1 timeframe). At the moment, the trading instrument is consolidating near the "mirror" resistance level of 0.6450. We recommend paying attention to this situation.

If the price fixes above the level of 0.6450, you need to look for entry points to the market to open long positions. The nearest goal for profit-taking is 0.6485-0.6500. The movement is tending to 0.6530-0.6550. When tracking positions, we recommend using a trailing stop.

by JustForex 2020.02.17

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

Open Account

Get Free Analytics

* required fields
Last Articles
All Articles
How to Become a Successful Forex Trader in Malaysia
With broad access to online brokerage services, everyone can become a trader these days. However, few people actually find success in FX. The reason might be that many of those who try trading skip some essential steps or simply do things wrong. Learn about the best ways to become a currency trader in Malaysia from this article.
Read more
How to Become a Forex Trader in Indonesia
Starting trading currencies in Indonesia is as easy as in the rest of the world. All you need to do is spend a few minutes of your time on opening a trading account and going through the verification process. However, this is hardly enough to start making money, let alone make a living out of forex trading. To learn about the best ways to trade currency in Indonesia, read this article.
Read more
Stop and Limit Orders in Forex
There are many gainful opportunities for traders in the forex market, but no one is immune to losses. That’s the reason why traders should employ an efficient trading strategy where both stop and limit orders go hand in hand with other essential aspects of the strategy.
Read more