NZD/USD news:
👉The New Zealand dollar (NZD) is losing ground against the US dollar (USD) amid growing concerns over the escalating trade conflict between the United States and China, the world’s two largest economies.
👉On the USD side, weaker-than-expected US economic data on the manufacturing sector, released on Monday, could limit the greenback’s gains and provide some support to the pair. The US ISM Manufacturing Purchasing Managers’ Index (PMI) fell to 50.3 in February from 50.9 previously, missing the market forecast of 50.5.
👉Looking ahead, the NZD could continue to face downward pressure in the long term.
Personal opinion:
👉NZD/USD is forming a Bearish Pennant pattern, which is likely to remain oversold. Therefore, consider a reasonable decision to place a Sell order
Analysis:
👉Based on the price action and the importance of the fibo combined with SMA to come up with a suitable strategy
Plan:
🔆Set up the price zone:
👉Sell NZD/USD 0.5630 – 0.5640
❌SL: 0.5690 | ✅TP: 0.5590 – 0.5540 –0.5500
FM wishes you a successful trading day đź’°đź’°đź’°
👉The New Zealand dollar (NZD) is losing ground against the US dollar (USD) amid growing concerns over the escalating trade conflict between the United States and China, the world’s two largest economies.
👉On the USD side, weaker-than-expected US economic data on the manufacturing sector, released on Monday, could limit the greenback’s gains and provide some support to the pair. The US ISM Manufacturing Purchasing Managers’ Index (PMI) fell to 50.3 in February from 50.9 previously, missing the market forecast of 50.5.
👉Looking ahead, the NZD could continue to face downward pressure in the long term.
Personal opinion:
👉NZD/USD is forming a Bearish Pennant pattern, which is likely to remain oversold. Therefore, consider a reasonable decision to place a Sell order
Analysis:
👉Based on the price action and the importance of the fibo combined with SMA to come up with a suitable strategy
Plan:
🔆Set up the price zone:
👉Sell NZD/USD 0.5630 – 0.5640
❌SL: 0.5690 | ✅TP: 0.5590 – 0.5540 –0.5500
FM wishes you a successful trading day đź’°đź’°đź’°
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âś… t.me/+Y9T5_BwC7_JhMWM1
Join now !!!!
Channel: signals - knowledge and FOREX comments
Join now !!!!
Channel: signals - knowledge and FOREX comments
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.