Technical Analysis of Weekly Price Movement of NZD/USD Commodity Currency Pairs, Monday October 23, 2023.
October 23, 2023 6:22 am
On the weekly chart of NZD/uSD commodity currency pairs, it is clearly seen that the seller who dominates this currency pairs where we can see right now that Kiwi is trying to go to level 0.5679 where this is confirmed by the price movement being below Kumo, Future Kumo has also changed color to pink, Chikou Span which is also below the price movement and Kumo, and Tenkan Sen which is intersecting downwards (Death Cross) with Kinjun Sen where This all indicates that the bearish condition is still ongoing, but this situation can change if there is a significant upward correction, especially if it succeeds in breaking above the 0.6110 level because if this level is successfully broken above, the weakening scenario described earlier will become invalid.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
On the weekly chart of NZD/uSD commodity currency pairs, it is clearly seen that the seller who dominates this currency pairs where we can see right now that Kiwi is trying to go to level 0.5679 where this is confirmed by the price movement being below Kumo, Future Kumo has also changed color to pink, Chikou Span which is also below the price movement and Kumo, and Tenkan Sen which is intersecting downwards (Death Cross) with Kinjun Sen where This all indicates that the bearish condition is still ongoing, but this situation can change if there is a significant upward correction, especially if it succeeds in breaking above the 0.6110 level because if this level is successfully broken above, the weakening scenario described earlier will become invalid.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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