Flag on NZD/USD

Flag on NZD/USD

The bearish sentiment has been prevailing on the NZD/USD currency pair for quite a long time. At the moment, the trading instrument is consolidating near three-month lows. The current technical pattern indicates a further drop in the NZD/USD quotes. On the hourly timeframe, the classic "Flag" figure has been formed, which currently signals the continuation of bearish sentiment. The level of 0.67400 is local support. We recommend paying attention to this situation.

If the price fixes below 0.67400, you need to look for entry points to the market to open short positions. The immediate goal for profit taking is a round level of 0.67000. The movement is tending to 0.66800-0.66600. When tracking a position, we recommend using a trailing stop.

by JustForex 2019.04.08

Este artículo representa una opinión personal y no debe interpretarse como un consejo de inversión, y/u oferta, y/o una petición persistente para llevar a cabo transacciones financieras, y/o una garantía, y/o un pronóstico de eventos futuros.

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