NZD/USD Technical Analysis | NZD/USD Trading: 2020-05-20 | IFCM Turkey
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NZD/USD Technical Analysis - NZD/USD Trading: 2020-05-20

NZD/USD Technical Analysis Summary

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Strong SellSellNeutralBuyStrong Buy

Above 0.6133

Buy Stop

Below 0.6083

Stop Loss

Ara Zohrabian
Ara Zohrabian
Senior Analytical Expert
Articles2624
IndicatorSignal
RSI Neutral
MACD Buy
Donchian Channel Buy
MA(200) Buy
Fractals Buy
Parabolic SAR Buy

NZD/USD Chart Analysis

NZD/USD Chart Analysis

NZD/USD Technical Analysis

On 1-hour timeframe NZDUSD: H1 is rising above the 200-period moving average MA(200) which is rising itself. We believe the bullish movement will continue after the price breaches above the upper bound of the Donchian channel at 0.6133. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 0.6083. After placing the order, the stop loss is to be moved to the next fractal low, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.

Fundamental Analysis of Forex - NZD/USD

The GlobalDairyTrade (GDT) price index rose. Will the NZDUSD rebound continue?

The GDT price index rose: it rose 1% after 0.8% decrease two weeks ago. The rising average price of the 9 dairy products indicates increase in export income, this is bullish for NZDUSD.

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Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.

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