Just Took Another NZD/USD Sell Trade - Forex News by FX Leaders

Just Took Another NZD/USD Sell Trade

Posted Wednesday, October 4, 2017 by
Skerdian Meta • 1 min read

I mentioned in the US session brief that the Kiwi was feeling weak. NZD/USD couldn’t make a lot of gains today like other majors and that gave us the impression that sooner or later this forex pair would turn lower.

So, I kept the bearish bias towards NZD/USD and I was looking to sell this pair again. I sold this pair last night after the 50 pip jump, which later closed in profit.     

Now, a similar situation is taking place. The Euro and the Yen made additional gains this morning, but NZD/USD couldn’t take out last night’s high. This meant that when the reverse would come, this forex pair was going to be the first to dive.

NZD/USD has turned down again

Another bearish signal was the previous hourly candlestick. It closed as a doji which is a reversing pattern. So, I decided to open a forex signal here.

Right after I opened the signal, the USD found some bids and this pair turned south. Now we are in profit, so this signal looks on the right track.     

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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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