NZD/USD Hanging Man Warns of Correction After Probing Above 0.8700

| 9 april, 2014 | 0 kommentarer

Talking Points

  • NZD/USD Technical Strategy: Sidelines Preferred
  • Rally stalls following test of critical 0.8700 handle
  • Hanging Man in intraday trade warns of a correction

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

NZDUSD-Hanging-Man-Warns-of-Correction-After-Probing-Above-0.8700_body_Picture_2.png, NZD/USD Hanging Man Warns of Correction After Probing Above 0.8700

Daily Chart – Created Using FXCM Marketscope 2.0

Drilling down to examine intraday price action; a Hanging Man formation near the critical 0.8700 handle offers an ominous warning. Confirmation from the close of a successive down period for the bearish reversal signal could open a correction back towards 0.8600.

NZD/USD: Bears Emerge Following Test of 0.8700

NZDUSD-Hanging-Man-Warns-of-Correction-After-Probing-Above-0.8700_body_Picture_1.png, NZD/USD Hanging Man Warns of Correction After Probing Above 0.8700

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 *