Let’s Shift To NZD/USD For A Change - Forex News by FX Leaders

Let’s Shift To NZD/USD For A Change

Posted Tuesday, July 4, 2017 by
Skerdian Meta • 1 min read

In the last couple of days we have had several sell forex signals in USD/CAD. It's been a good run since all of them have closed in profit.

The last one closed this morning, but now it's time to change to NZD/USD. You might argue why we didn't sell AUD/USD which is in a very bearish mode.

Well, AUD/USD is oversold in most timeframe charts and it might retrace higher at any time. In the other hand, NZD/USD has completed the retrace.

Looking at the hourly chart, stochastic is overbought, the trend is down and the 50 SMA is providing resistance. The same moving average is standing above our head on the H4 chart, which adds extra strength to the 0.73 resistance level.

Besides that, the Buck is still charging. So, the NZD/USD signal is the safest bet. At the moment it is going pretty well, so fingers crossed.

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About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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