NZD/USD had a bullish day on Friday as traders continued to get excited about a possible EU rescue package over the weekend. However, the recent
NZD/USD had a bullish day on Friday as traders continued to get excited about a possible EU rescue package over the weekend. However, the recent consolidation area wasn’t broken, and the real risks are for disappointment from the meeting – which would produce a “risk off” environment, and would be bad for the Kiwi overall. Because of this, we are not comfortable buying this currency unless we see a solid green candle at the close on Monday. Until then, we feel much more comfortable selling signs of weakness.
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.
