The New Zealand dollar has been really strong lately. Will it beat the multiyear highs?
NZD/USD rising inside minor corrective wave (iv)
2019-11-11 • Updated
- NZD/USD rising inside minor corrective wave (iv)
- Next buy target - 0.7000
NZD/USD continues to rise inside the minor corrective wave (iv) which started earlier from the support zone lying between the long-term support level 0.6810 (which reversed the previous downtrend in May, as can be seen below) and the lower daily Bollinger Band. NZD/USD is be expected to rise further to the next buy target at the next resistance level 0.7000 (forecast price for the completion of the active wave (iv), intersecting with the lower trendline of the wide daily down channel from July).
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The dollar gains against low-yielding currencies on Wednesday, hitting a five-month high against the yen as US bond yields jumped on the prospects of further economic recovery.
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...