NZDUSD Price Analysis – December 2
NZDUSD bears prepare for a downpour in the market. The bears are prepared to rage a storm of influence on the market by moving prices with strong, significant strength. The market will experience a downpour due to the bears’ successful gain in power over the bulls in the market. The bulls want to lift the price movement upward to break through the 0.68430 key level. However, due to the low level of impact, the bears will eventually succeed in returning price movement downward in a bearish torrent.
NZDUSD Key Levels:
Resistance Key Levels: 0.71950, 0.70550
Support Key Levels: 0.68430, 0.67100
NZDUSD Long Term Trend: Bearish
The NZDUSD market can be described as having exhibited a wayward influence in the sense that the market gave both the buyers and the sellers space in the market to manipulate prices in its direction. The market emerged with a bear trend and the bears manipulated the market downward, down to the 0.68430 key level. When the price attained this level, the bulls had a significant impact on the market’s influence. The price level rallied back to the 0.71950 key level. Bull’s torment fell at this significant level of influence. The price level then continues in a side-ways movement.
The bulls and the bears struggled to keep the price structure. The bears eventually zoomed in with a downpour of price movement, breaking several price levels of influence. Price then dropped to several lows before breaking through the 0.68430 key level. The bears strengthen themselves to break through this level to ride to the 0.67100 key level. The bulls, however, tried to entangle the bears to push the price level back to the 0.68430 key level. The RSI (Relative Strength Indicator) shows price movement at the middle level pointing downward as price tends to assume a bearish direction.
NZDUSD Long Term Trend: Bearish
The 4-hour chart price inclination shows the movement to be random and between the price range values of 0.68430 and 0.67100, the key level of influence. The RSI also shows a price signal in the middle level pointing downward, indicating a bearish presence at hand as the market is prepared for a downpour, and the mass flow index indicator also follows the direction of a bearish market. The price level is therefore ready for a downpour below the 0.68430 key level.
You can purchase crypto coins here: Buy coins
Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.