Trade FOREX with FXCM

  • Award-Winning Platform
  • 24/7 Customer Support
  • Trade Directly on Charts
  • Free $50K Practice Account
DailyFX Home / Forex Technical Analysis / Forex Candlestick Summary

Forex Candlestick Summary

Symbol Trend Bias Time Frame Candlestick Formation Candle Bias Chart Links

NZD/USD Remains Vulnerable Amid Lack Of Reversal Signals

Talking Points

  • NZD/USD Technical Strategy: Sidelines Preferred
  • Doji Indicated Indecision At The 0.8060 Ceiling
  • Bullish Pattern Emerges In Intraday Trade

NZD/USD continues to lack bullish cues from candlesticks on the daily. Yet some skepticism over a continued pullback may be warranted given recent ‘messy’ price action. This suggests a consolidation may be a more likely path for the pair with buyers likely to move at 0.7730.

NZD/USD: Doji Suggested Hesitation Near 0.8060 Ceiling

NZD/USD Remains Vulnerable Amid Lack Of Reversal Signals

Daily Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here

The four hour chart may be offering a source of hope for the Kiwi with a Bullish Engulfing formation evident near 0.7790. However, the key reversal formation awaits confirmation from a successive up-period to be validated and to suggest an advance over the session ahead.

NZD/USD: Bullish Reversal Signal Emerges In Intraday Trade

NZD/USD Remains Vulnerable Amid Lack Of Reversal Signals

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.

Latest Topics in the DailyFX Forums

GBP and JPY Pairs
by yuriagpalo
Today at 10:10
EURUSD
by coolpartner
Today at 10:06
GBP and JPY Pairs
by Lukman Otunuga
Today at 10:05
EURUSD
by Lukman Otunuga
Today at 10:03

Resources