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Weekly forecast New Zealand Dollar / US Dollar technical chart
Symbol NZDUSD

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.58001 to 0.57723). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (0.58001)
  • Ending of entry zone (0.57723)

DateDecember 2, 2023 - 11:29
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 0.59861 is a major support, while this level is not broken, the Midterm wave will be uptrend.

Technical analysis:

  • A trough is formed in daily chart at 0.59390 on 11/17/2023, so more gains to resistance(s) 0.63078, 0.64106, 0.65327 and more heights is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 73.

Take Profits:

  1. 0.58844
  2. 0.59424
  3. 0.59861
  4. 0.60477
  5. 0.61167
  6. 0.61602
  7. 0.63078
  8. 0.64106
  9. 0.65327
  10. 0.67156
  11. 0.70330
  12. 0.72150
  13. 0.74650
Click on the level to view price action history.

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