NZDUSD Inside a Large ABCDE Pattern
The US dollar is lower across the board today as President Trump may accelerate the announcement of a successor to Federal Reserve Chairman Jerome Powell, as reported by the WSJ.
Investors are wary of the lack of independence from the Federal Reserve and expect interest rates to move significantly lower.
It is strange that the market did not move up and down in a crazy way at a time when we were close to a possible World War III and it's really funny that all the charts are moving because Powell could be replaced.
We have to be careful because these are just rumors at the moment and no one can replace Powell if he doesn't want to. Otherwise, Trump would have made this decision a long time ago.
Technical Analysis:
The price is testing a strong resistance area near 0.6100 again
It looks like we are inside a larger pattern and potentially NZDUSD could move down again once these rumors disappear.
Key level zones: 0.6000, 0.5955, and 0.5910
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
The US dollar is lower across the board today as President Trump may accelerate the announcement of a successor to Federal Reserve Chairman Jerome Powell, as reported by the WSJ.
Investors are wary of the lack of independence from the Federal Reserve and expect interest rates to move significantly lower.
It is strange that the market did not move up and down in a crazy way at a time when we were close to a possible World War III and it's really funny that all the charts are moving because Powell could be replaced.
We have to be careful because these are just rumors at the moment and no one can replace Powell if he doesn't want to. Otherwise, Trump would have made this decision a long time ago.
Technical Analysis:
The price is testing a strong resistance area near 0.6100 again
It looks like we are inside a larger pattern and potentially NZDUSD could move down again once these rumors disappear.
Key level zones: 0.6000, 0.5955, and 0.5910
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
✅MY Free Signals
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
✅MY Recommended Broker is TRADE NATION
🔸bit.ly/49VySJF
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
✅MY Recommended Broker is TRADE NATION
🔸bit.ly/49VySJF
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.