NZDUSD - Bearish Bias
NZD - Weak Bearish
1️⃣ A negative market environment can depress high-beta currencies such as the NZD.
2️⃣ The NZD was also weighed down by weak economic data from China on Wednesday.
USD - Strong Bullish
1️⃣ Risk-off sentiment in the market benefits safe-haven currencies.
2️⃣ Investors remain concerned about the global economic slowdown amid the spread of the Delta variant COVID-19.
3️⃣ US retail sales for August are expected to increase on the back of increased wage growth in the country.
4️⃣ The New York Empire State Manufacturing Index jumped to 34.3 in September of 2021 from 18.3 in August and well above market forecasts of 18
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Technical
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We are selling the NZDUSD after it failed to break resistance.
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Risk to this trade
=====
Any change in sentiment could turn the pair's direction.
Don't forget to like, comment, and subscribe for more ideas.
1️⃣ A negative market environment can depress high-beta currencies such as the NZD.
2️⃣ The NZD was also weighed down by weak economic data from China on Wednesday.
USD - Strong Bullish
1️⃣ Risk-off sentiment in the market benefits safe-haven currencies.
2️⃣ Investors remain concerned about the global economic slowdown amid the spread of the Delta variant COVID-19.
3️⃣ US retail sales for August are expected to increase on the back of increased wage growth in the country.
4️⃣ The New York Empire State Manufacturing Index jumped to 34.3 in September of 2021 from 18.3 in August and well above market forecasts of 18
=====
Technical
=====
We are selling the NZDUSD after it failed to break resistance.
=====
Risk to this trade
=====
Any change in sentiment could turn the pair's direction.
Don't forget to like, comment, and subscribe for more ideas.
Trade active
Note
✅ Close Manually at 0.70400+55 PIPS
Clear orders ahead weekend.
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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.
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.