The trend of NZD/USD has put an end to its consecutive sell and began its long on this week open in 0.77984. This trend reversal has done in the belief of the great resistance.
For the last week, the USD has gained a bunch of 400 pips against the NZD and
it is considerable for this pair. By this substantial gain of USD has led the
short to be oversold. So, it is obviously giving favor to the uptrend and leads
the market towards the resistance.
The short term and long term moving average
is predicting the tremendous uptrend to achieve a gain of about 70+ pips. Even though, the trend has been
showing its uptrend from the beginning of today, it is clearly predicted
as long in the point of 0.78371.
Once it
crosses the initial resistance, it will be trending towards the top to find its
great resistance. If the indicators are right, it could be assured of getting
the 70+ pips. Perhaps, the trend will continue this long, it is highly possible
to compensate the last week short.
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