This isn't necessarily a trade idea, but more for curiosity.
Based on the 4-hour chart the upwards trend is still going strong, i am unable to see that the trend is going to reverse any time soon.
I have had a look at the fundamental news from last week. The US stock markets ended the week with declines. This provides us with further evidence that this pair will continue to go higher for the time being.
On Sunday 09:45 pm (UTC) we are expecting the release of the NZD Retail Sales Data. This is forecasted to be lower than the previous.
Previous - 1.1% | Forecast - 1.0% - We will not see any big moves unless there is a big deviation from the expected.
The pivot points from the last trading session are marked on the chart. The dotted lines are previous lines of resistance and support.
Looking at the chart, it looks like there could be a pullback to 0.67670 where we could see this bounce to 0.68121.
Based on the 4-hour chart the upwards trend is still going strong, i am unable to see that the trend is going to reverse any time soon.
I have had a look at the fundamental news from last week. The US stock markets ended the week with declines. This provides us with further evidence that this pair will continue to go higher for the time being.
On Sunday 09:45 pm (UTC) we are expecting the release of the NZD Retail Sales Data. This is forecasted to be lower than the previous.
Previous - 1.1% | Forecast - 1.0% - We will not see any big moves unless there is a big deviation from the expected.
The pivot points from the last trading session are marked on the chart. The dotted lines are previous lines of resistance and support.
Looking at the chart, it looks like there could be a pullback to 0.67670 where we could see this bounce to 0.68121.
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