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NZD/USD Technical Analysis - NZD/USD Trading: 2020-05-20
NZD/USD Technical Analysis Summary
Above 0.6133
Buy Stop
Below 0.6083
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Buy |
| MA(200) | Buy |
| Fractals | Buy |
| Parabolic SAR | Buy |
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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