The NZD/USD pair fell for most of the session on Thursday, but managed to find enough support down at the 0.8350 level to bounce and form a massive
The NZD/USD pair fell for most of the session on Thursday, but managed to find enough support down at the 0.8350 level to bounce and form a massive hammer. This hammer is immediately after the shooting star from Wednesday, so this shows quite a bit of confusion. We still think there is an upward bias in this pair, and if the Nonfarm Payroll Friday announcements push the market down, we believe that it will offer a buying opportunity. Alternately, we love buying this pair on a move above 0.85254 the daily close. At that point time, we would consider this pair broken out and would buy-and-hold it for the foreseeable future.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
