NZD/USD Hammer Candlestick Offers Hopes For A Corrective Bounce
Here you can find all the latest breaking forex and currency news about NZD/USD Hammer Candlestick Offers Hopes For A Corrective Bounce including currency analysis and forecasts, live foreign exchange rates, central bank interest rates, and currency trading strategies from experienced fx traders and forex platforms.
Talking Points
- NZD/USD Technical Strategy: Sidelines Preferred
- Hammer Candlestick Pattern Offers Bullish Reversal Signal
- Climb Over 0.8400 Needed To Suggest A Sustained Recovery
NZD/USD may have reached a turning point with a Hammer formation offering a sign of hope for the bulls. An ensuing up-day and close above the 0.8400 hurdle would be required to signal the potential for a more sustained recovery for the pair. Yet skepticism over a bounce may be warranted given the backdrop of a pronounced downtrend on the daily.
NZD/USD: Hammer Offers Sign of Hope To The Bulls
Daily Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here
A similar narrative to the daily is evident in intraday trade on the four hour chart. A bounce off the 0.8312 floor has yielded a a Morning Star pattern which signals a shift in sentiment for the pair. The leap over the 0.8343 hurdle opens the potential for a run on the psychologically-significant 0.8400 handle.
NZD/USD: Bullish Pattern Emerges In Intraday Trade
Four Hour Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here
By David de Ferranti, Currency Analyst, DailyFX
Follow David on Twitter: @Davidde
To receive David’s analysis directly via email, please sign up here.
Learn how to read candlesticks to help identify trading opportunities with the DailyFX Candlesticks Video Course.
original source
The article above is about breaking forex and currency news regarding NZD/USD Hammer Candlestick Offers Hopes For A Corrective Bounce, if you have any question about it. Please contact us by using the link below. Thanks for your patience.
- Japanese Yen Gains, Nikkei Falls as BOJ Leaves Policy Unchanged
- Chinese Business Sentiment Contracts for the First Time in 4 Months
- Dismal UK Retail Sales to Spur Another Test of GBP/USD Resilience
- Forex-Webinar:-FOMC-Minutes-Reinforce-Hike-Forecast
- Trading Video: Dollar Fails to Rally on Hawkish FOMC, Equities Rally
- Among Top Themes, Where is the Risk Most Potent: Fed Hike, China, EM?
- EUR/USD Technical Analysis: Looking to Short on Bounce
- US Dollar Declines as FOMC Minutes Bring Nothing New to the Table
- US DOLLAR Technical Analysis: USD Holds Support on FOMC Minutes
- WTI Crude Oil Price Forecast: What Now That $40bbl Broke?
- Fingertrp Scalping with James Stanley (Using Tradingview Charts)
- EUR/USD Risks Fresh Monthly Lows on Hawkish FOMC Minutes
- Analyst Pick - Kiwi & CAD in Focus
- Price & Time: USD/CAD ? It?s Showtime
- GBP/USD Ranges Ahead of FOMC Minutes
- President Xi Warns That China Faces Considerable Downward Pressure
- FOMC Minutes Later Today - USD Set for October 28 Redux
- Silver Price Is Targeting Its Yearly Low
- FTSE 100: Commodity Markets Wants to See The FTSE 100 at 6040
- DAX 30: Momentum Slows Down, FOMC Minutes on Tap
- US Dollar May Extend Gains as Fed Minutes Foreshadow Rate Hike
- Copper Surplus Faces Falling Premiums; Gold Slides before Fed Minutes
- China Real Estate Market Recovery Slows in October
- Traders Not as Confident of Fed Hike as Markets, Economists
- EUR/GBP Technical Analysis: Euro Drops to 3-Month Low
- Dollar Unmoved After China Treasury Holdings Hit a 7 Month Low
- Can Dollar Climb Continue After FOMC Forecast Shift?
- Dollar’s CPI Rally Lacking, Stall in Risk Raises Yen Crosses Appeal
- NZD/USD Technical Analysis: Short Trade Activated Sub-0.65
- Will the DAX Crack or Cower from Resistance?