Hi Traders! NZDUSD forecast update and follow up is here. On September 3rd I shared this NZDUSD Technical Analysis And Forecast post in my blog. In this post, let’s do a recap of this setup and see how it has developed now. If you would like to learn more about the way we trade and the technical analysis we use then check out the Traders Academy Club. Spoiler alert – free memberships are available!
Missed this trade?
Never miss a trade opportunity again! Join the Traders Academy Club
Now let’s summarize the idea first:
On the H1 chart, the price has created a bearish divergence based on the MACD indicator. Also based on the Parabolic Sar the dots are above the price, we may consider these as evidences of bearish pressure. In addition to this, the ADX indicator gave a bearish signal here as well at the cross of -DI (red line) versus +DI (green line), and the main signal line (silver line) reads value over 25, we may consider this as yet another evidence of bearish pressure. So based on all this, my short term view is bearish here and I expect the price to continue lower further.
NZDUSD H1(1 Hour) Chart Current Scenario
For similar trade ideas and much more join the Traders Academy Club and get access to our complete watch list and trade report.
This is how the report looks like. A table with the hottest market opportunities, screenshot behind every pair and time frame (anything that is in blue inside the table is clickable and leads to a screenshot) + a summary in text format, kind of highlights. And of course Live Market Analysis every single day.
If you have any further questions, don’t hesitate to drop a comment below!
To your success,
Vladimir Ribakov
Certified Financial Technician
