The NZD/USD pair initially tried to rally initially during the week but turned around to form a massive shooting star. The shooting star sits right above
The NZD/USD pair initially tried to rally initially during the week but turned around to form a massive shooting star. The shooting star sits right above the 0.70 level, so we can break down below there the market should then go reaching towards the lows again. Because of this, I believe that the sellers are very active in this market and will eventually get their way. However, I am also the first person to admit that a break above the top of the shooting star would be very bullish and could send this market looking for as high as 0.7350 levels above.
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.
