Looking at NZDUSD on the weekly timeframe, we can see that the pair's price dropped and penetrated to the 50.0 Fibo level towards the 38.2 Fibo level last week. If referring to the stochastic indicator and MFI indicator, there is indeed a trend reversal after an oversold occurrence, therefore go-short can be an option referring to the current bearish trend. On the other hand, if this pair is able to bounce back and penetrate the 50.0 Fibo level, then a go-long position is an option. Stay alert to the market volatility and trade with your own risk.
#forexlifestyle #intraday #money #cryptocurrency #finance #forexsignals #daytrading #wallstreet #forextrader #investing #forexanalysis #forextrading #stocks #business #daytrader #crypto #forexeducation #trader #trading #intradaytrading #financialfreedom #forex #bitcoin #priceaction #swingtrading #stockmarket #investment #pips #technicalanalysis
Disclaimer: The views expressed are solely those of the author and do not represent the official position of Followme. Followme does not take responsibility for the accuracy, completeness, or reliability of the information provided and is not liable for any actions taken based on the content, unless explicitly stated in writing.
Leave Your Message Now