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