The New Zealand Dollar.

Good morning Dynamic Traders,

Todays chart for you to analyse is the NZDUSD on the daily timeframe.

As can be seen from the image below, price is in a downtrend with a bounce happening from early March.
We dont know if it is going to continue up but by putting certain situations together we can possibly expect at least a short term downward movement.

Price at yesterdays doji stands at a former resistance area together with a strong figure which could cause a retreat as confluences build.
However whilst doing your own analysis, you will see that it has also tagged the V.I. and then add in an OB diverging RSI indicator, and there are a multiple of reasons to expect the turn.

Trade off your lower timeframes for entry so as not to chase the trade and manage accordingly.

Charts courtesy of AdvancedGet.

Always do your own analysis.

Clayton Farnworth.