The NZD/USD pair initially fell during the course of the session on Friday, turning things back around and forming a bit of a hammer. The hammer of course
The NZD/USD pair initially fell during the course of the session on Friday, turning things back around and forming a bit of a hammer. The hammer of course suggests that we are going to go higher, but we recognize that there is a significant amount of resistance above. Short-term traders will probably take advantage of this, as the market will more than likely try to reach towards the 0.6750 level. However, we believe that the markets will sell off at those higher levels, so we recognize that this is a bit of a “to speed” market.
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.
