Daily Market Analysis 01 Sep 2022

Daily Market Analysis 01 Sep 2022

  • Market News
  • Daily Market News
  • 2022, 01 September

NZD/USD

Technical Outlook

NZD/USD is bearish. The price gave a breakdown of a bearish engulfing pattern. A bearish engulfing pattern gives confirmation for more sellers joining the short side. The pair recently tests its previous swing low, making double bottom scenario. If it breaks below (0.6077), then there is a high probability of price go even further on the lower side.

 

Technical Indicators
Action
RSI (37)
SELL
Oscillator (05) 
SELL
MACD (Below Midline)
SELL
200 EMA (0.6561)
SELL


Strategy


Scenario 1
Scenario 2
Action
Sell
Sell
Entry
0.6110
0.6120
Target 1
0.6080
0.6090
Target 2
0.6050
0.6060
Stop Loss
0.6140
0.6150


Key Signposts

NZD: No key data


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