NZD USD week 07 08
NZD USD - Week of 7/8/2023
Based on the news, NZD remains unaffected until Wednesday, 9/8/2023, when the inflation expectation quarter-to-quarter report is released. After Wednesday, we will reassess the NZD's trend. In the H4 timeframe, the NZD USD price is moving within a narrower channel. It seems the price may bounce within the channel until one of its trendlines is broken significantly. If the upper channel is broken, it is likely due to the support from DXY. The breakout candle needs to be a strong bullish one. I will consider opening a buy signal on Monday or Tuesday, depending on the candle that breaks the channel.
Based on the news, NZD remains unaffected until Wednesday, 9/8/2023, when the inflation expectation quarter-to-quarter report is released. After Wednesday, we will reassess the NZD's trend. In the H4 timeframe, the NZD USD price is moving within a narrower channel. It seems the price may bounce within the channel until one of its trendlines is broken significantly. If the upper channel is broken, it is likely due to the support from DXY. The breakout candle needs to be a strong bullish one. I will consider opening a buy signal on Monday or Tuesday, depending on the candle that breaks the channel.
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