NZDUSD analysis Forex October 2020

Will the NZD (New Zealand Dollar) get stronger in 2020? It’s very unlikely. As supply and demand traders we do not need to pay attention to fundamentals to do NZDUSD analysis. However, If we were to believe major bank New Zealand Dollar forecasts, the NZDUSD will remain around 67 US cents to the NZ Dollar. But that’s not what forex price action and supply and demand is telling us about NZDUSD.

NZDUSD technical analysis

Price action is telling us a completely different story. A bearish correction is expected on NZDUSD cross pair. NZDUSD analysis is no longer bullish, at least not as long-term traders. You can use this long-term NZDUSD analysis to sell short NZDUSD forex cross pair if it continues to drop as expected. See below NZDUSD technical analysis based on the monthly timeframe. NZDUSD is currently trading around 065 after a very strong bullish impulse that took a few months to be completed. It’s too late to buy NZDUSD forex cross pair.

NZDUSD forex long-term analysis
NZDUSD forex long-term analysis

You can use smaller timeframes to sell short NZDUSD if you are an intraday trader or you are into forex day trading. It’s not a good idea to buy NZDUSD right now. Check other Forex cross pair analysis in my supply and demand blog.

NZDUSD price action analysis using supply and demand strategy

This is the kind of price action technical analysis you will learn in our trading community. You will learn how to locate new supply and demand imbalances and trade without using any indicators, no news, no fundamental analysis, no earnings announcements, no volume or VSA analysis. Just supply and demand imbalances.

Trading supply and demand imbalances are ideal for beginners and those with a full or half time job, you won’t need to stay in front of the computer all day long trying to move price action with your mind. 

As supply and demand traders, we do not need to pay attention to the news, fundamentals or any earnings reports. Once a big timeframe imbalance has gained control, earnings do just the opposite and react strongly to those imbalances. Why is it that you see positive earnings and then the underlying stock drops like a rock? Or a negative earnings announcement and the stock rallies like a rocket out of control? You are probably missing the fact that there are big imbalances gaining control.

Unless you are doing very short term trading and scalping, you should not worry about fundamentals or earnings announcements for NZDUSD forex cross pair.

Leave a Reply

Your email address will not be published. Required fields are marked *

     
 

Disclaimer: Any Advice or information on this website is General Advice Only - It does not take into account your personal circumstances, please do not trade or invest based solely on this information. By viewing any material or using the information within this site you agree that this is general education material and you will not hold any person or entity responsible for loss or damages resulting from the content or general advice provided here by Set and Forget, its employees, or fellow members. Futures, options, and spot currency and stocks trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the Forex and futures markets. Don't trade with money you can't afford to lose. This website is neither a solicitation nor an offer to Buy/Sell spot Forex, cfd's, stocks or other financial products. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in any material on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.

High Risk Warning: Forex, Futures, and Options trading has large potential rewards, but also large potential risks. The high degree of leverage can work against you as well as for you. You must be aware of the risks of investing in Forex, futures, and options and be willing to accept them in order to trade in these markets. Forex trading involves substantial risk of loss and is not suitable for all investors. Please do not trade with borrowed money or money you cannot afford to lose. Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. Please remember that the past performance of any trading system or methodology is not necessarily indicative of future results.