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NZD/USD Signal - USD Fed Chair Powell Speech - 24 Sep 2020

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Signal Details
Entry Price: 
0.6567
Take Profit: 
0.6487
Stop Loss: 
0.6598
Direction: 
Sell
How we trade
Average: 5 (1 vote)

NZDUSD is trading to the downside today prior to Fed Chair Powell's speech. Throughout this week we have seen the USD bolster in anticipation of his speech, with the Fed's outlook being a significant catalyst for moving markets.
Technically the pair is trading below the moving averages and resistance trendline. We anticipate a slight pullback before further selling, with entry at the 0.6567 pivot and targets at the 0.6487 level.

Submitted by Toni H. on Wed, 23 Sep 2020 23:01:47 GMT

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Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion. All risks and coasts associated with online trading are your responsibility.

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