We can see that Kiwi is trader very similarly against two biggest players. Against EUR price is at key resistance and now we can see that against USD price is right at the key support. However, there is slight difference between these two pairs. With EUR/NZD we could see that indicators are signaling us that the price is loosing it's momentum and probably will not have enough power to break through resistance line. With NZD/USD it is little bit different as almost non of the indicators shows us that price is slowing down but let's keep in mind that EUR/NZD and NZD/USD are strongly negative correlated (88.6%), it means that if one pair goes up than other will go down so there is a small chance of both pairs heading in positively correlated (same) direction.
To sum up everything we believe that EUR/NZD will go down right at the beginning however for NZD/USD we have to wait for more clearer signs that price has been rejected from Support.
What do you think about this idea ? Let us know in comments and don't forget to hit that like and follow button to help us growing this channel :)
Good luck !
To sum up everything we believe that EUR/NZD will go down right at the beginning however for NZD/USD we have to wait for more clearer signs that price has been rejected from Support.
What do you think about this idea ? Let us know in comments and don't forget to hit that like and follow button to help us growing this channel :)
Good luck !
