News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
NZD/USD Doji Ensemble Indicates Caution Near Critical Support

NZD/USD Doji Ensemble Indicates Caution Near Critical Support

David de Ferranti, Currency Analyst

Talking Points

  • NZD/USD Technical Strategy: Pending Short
  • Remains At A Critical Juncture Near 0.8260
  • Awaiting Downside Break to Open 0.8060

NZD/USD continues to skip across the critical 0.8260 barrier with a medley of short body candles suggesting caution from traders. A daily close below the nearby floor would be preferred for entering new short positions, given the context of a downtrend on the daily.

NZD/USD: At A Crossroads Near Critical Barrier

NZD/USD Doji Ensemble Indicates Caution Near Critical Support

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

The Harami noted in the most recent candlesticks report delivered a short-lived bounce for NZD/USD. The emergence of a Gravestone Doji now hints at a pullback for the pair over the session ahead. Buying interest is likely be renewed near the 0.8267 lows.

NZD/USD: Gravestone Doji Offers Warning Of Intraday Weakness

NZD/USD Doji Ensemble Indicates Caution Near Critical Support

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.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES