NZDUSD Experiences Sell-side Delivery

Service for copy trading.

High profitable signals.

24/7 cryptocurrency trading.

10 minute setup with significant benefits.

79% Success rate.

Up to 40 trades per month.

Monthly subscriptions begin at £58.

L2T Algo

RESULTS

Market Analysis – March 12

NZDUSD has experienced a bearish market reversal. The market is descending through a falling wedge on the daily chart. The bears have made the first attempt to break the 0.6090 support level.

NZDUSD Key Levels

Supply Levels: 0.6500, 0.6350, 0.6230
Demand Levels: 0.6090, 0.5770, 0.5570

NZDUSD Long-term Trend: Bearish

NZDUSD market was on a downward trend during August and September last year. The daily candles rested below the Moving Average (period 20) within the Bollinger Bands to reveal the bearish nature of the market during the period. The market experienced a bullish reversal after a short-term consolidation in early October. The Bulls attempted to force through the 0.5570. The demand level was well-defended, and with a great influx of bulls, the market reversed.

The market ascended rapidly to the liquidity pool, which was resting at 0.6500, above the major high of the bearish swing. The bullish trendline that aided the price rise was broken in December after the Stochastic signaled the market was overbought. The market created a range again before the new market reversal.
The month of February opened with a bearish shift in market structure. The Stochastic sank to the oversold level swiftly at the appearance of a large bearish candle.

NZDUSD Short-term Trend: Bearish

On the 4-hour chart, the candles have reached the upper border of the falling wedge. The Stochastic indicator is currently overbought. The market is expected to fall back to the 0.6090 support level.

Do you want to take your trading to the next level? Join the best platform for that here