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NZD/USD Indecision Endures As Denoted By Dojis On The Daily

NZD/USD Indecision Endures As Denoted By Dojis On The Daily

2014-11-25 09:53:00
David de Ferranti, Currency Analyst
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Talking Points

  • Strategy: Flat
  • Doji Medley Indicates Indecision From Traders
  • H4 Chart Reveals A Break Of Intraday Support

NZD/USD has witnessed a lackluster set of sessions that have left a string of Doji formations in their path. This suggests persistent indecision from traders and leaves a more constructive setup desired.

NZD/USD: Dojis Suggest Hesitation From Traders

NZD/USD Indecision Endures As Denoted By Dojis On The Daily

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

The four hour chart paints a more bearish picture for the Kiwi after an Evening Star pattern emerged near 0.7900. With bullish signals lacking and a break below 0.7830 the scene may be set for further weakness over the session ahead.

NZD/USD: Evening Star Offered An Early Warning In Intraday Trade

NZD/USD Indecision Endures As Denoted By Dojis On The Daily

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

By David de Ferranti, Currency Analyst, DailyFX

Follow David on Twitter: @DaviddeFe

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