NZD/USD Dark Cloud Cover Forms After Setting New 2014 High

| 10 april, 2014 | 0 kommentarer

Talking Points

  • NZD/USD Technical Strategy: Sidelines Preferred
  • Shooting Star potentially forming on the daily
  • Dark Cloud cover suggests potential for intraday dip

The Kiwi bulls pushed prices to a new 2014 high in Asian trading today. However, the bears look to be re-emerging with a Shooting Star potentially forming on the daily. It should be noted of course that the candle has yet to close and receive validation from another period – but it is certainly on the radar.

NZD/USD: Sets New 2014 High Following Break of 0.8700

NZDUSD-Dark-Cloud-Cover-Forms-After-Setting-New-2014-High_body_Picture_2.png, NZD/USD Dark Cloud Cover Forms After Setting New 2014 High

Daily Chart – Created Using FXCM Marketscope 2.0

Drilling down to the four hour chart; the Hanging Man formation noted in yesterday’s candlesticks report resulted in an intraday dip for the Kiwi back to support at 0.8645. However, the pattern failed to result in a more material correction. The emergence of a Dark Cloud Cover reversal signal is now on the radar, which may be signaling the potential for some weakness ahead. Buying support likely rests nearby at the former resistance-turned support level at 0.8700.

NZD/USD: Dark Cloud Cover Offers Warning

NZDUSD-Dark-Cloud-Cover-Forms-After-Setting-New-2014-High_body_Picture_1.png, NZD/USD Dark Cloud Cover Forms After Setting New 2014 High

Four Hour Chart – Created Using FXCM Marketscope 2.0

By David de Ferranti, Market Analyst, FXCM

Follow David on Twitter: @Davidde

To receive David’s analysis directly via email, please sign up here.

Taggar: ,

Kategori: Analys från DailyFX

Om skribenten ()

DailyFX från FXCM ger dig dagligen färska tekniska analyser på valuta och råvaror. FXCM är en ledande handelsplattform för trading av finansiella tillgångar med kraftfulla verktyg för alla sorters handel.

Lämna ett svar

Din e-postadress kommer inte publiceras. Obligatoriska fält är märkta *