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NZD/USD Signal - NZD Business Confidence - 18 Jan 2021

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Signal Details
Entry Price: 
0.7132
Take Profit: 
0.7075
Stop Loss: 
0.7172
Direction: 
Sell
How we trade
Average: 5 (1 vote)

NZDUSD is trending to the downside as the risk-off sentiment continues into the new week prior to the NZD Business Confidence data. The data shows the business outlook in New Zealand. The Business Confidence allows analysis of economic situation in the short term. Technically the pair is trading well below the moving averages, and holding below the 0.7148 pivot, and we anticipate further downside into the 0.7075 pivot.

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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.