The NZD/USD pair fell during the early part of the Friday session, only to bounce again during the US session. The commodity trade has been bullish, and
The NZD/USD pair fell during the early part of the Friday session, only to bounce again during the US session. The commodity trade has been bullish, and the Kiwi has flourished as a result. The candle from Friday looks like a hammer, but can also be a “hanging man” if we break the bottom. So the trade set up is quite simple: we buy if it gets above the highs from Thursday, and sell if we get below the lows from Friday. We expect the 0.8000 level to be supportive in the case of a selling situation.
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.
