NZD/USD had a bullish day on Friday as the markets bought the “risk on” move for most of the day. The resulting candle was a decent green one, but the end
NZD/USD had a bullish day on Friday as the markets bought the “risk on” move for most of the day. The resulting candle was a decent green one, but the end of the day did give back some of its gains. The risk off trade is always ready to come back into the market, so we are more inclined to sell this pair over time, but waiting for rallies that show weakness going forward. We are not interested in buying at this point in time as the headlines are always liable to be bearish for risk in general these days, and the highs are getting lower.
NZD/USD Forecast December 19, 2011, Technical Analysis
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
