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NZD/USD Maintains Upward Trajectory With Bearish Signals Lacking

NZD/USD Maintains Upward Trajectory With Bearish Signals Lacking

David de Ferranti, Currency Analyst

Talking Points

  • Strategy: Flat
  • Clean Ascent May Prove Challenging Amid Downtrend
  • H4 Timeframe Reveals Reluctance From The Bulls

NZD/USD continues its climb with a void of bearish candlesticks potentially opening the prospect of further gains. However, a clean ascent is likely to be challenging with lingering signs of a downtrend suggesting some negative sentiment remains.

NZD/USD: Shows Resilience In Absence of Bearish Patterns

NZD/USD Maintains Upward Trajectory With Bearish Signals Lacking

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

The four hour chart should be closely monitored for signs of exhaustion from the bulls. Already a Dojiformation suggests some indecision from traders. Yet in the absence of more definitive reversal signals there is some doubt over a correction during the session ahead.

NZD/USD: Doji Suggests Some Reluctance From The Bulls In Intraday Trade

NZD/USD Maintains Upward Trajectory With Bearish Signals Lacking

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

By David de Ferranti, Currency Analyst, DailyFX

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