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Jan 28, 2025

NZDUSD: Potential Downturn

NZDUSD, H4

NZDUSDH4.png

NZDUSD corrected after a rebounding from the 0.5720 resistance and faced the 0.5650 support at the 38.2 Fibonacci ratio.

The Alligator’s lips cross the jaw line, while the Momentum oscillator crosses the 100 lines downwards, giving a potential trend reversal sign.

  • Consider a short trade if the price breaks below the 0.5650 support with the target at 0.5610.

Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

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Timur Yurdagyul

Author: Timur Yurdagyul

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