05.03.201908:46 Forex Analysis & Reviews: Forecast for NZD/USD on March 5, 2019

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

NZD/USD

In the past two days, the New Zealand dollar lingered in a decline at the Fibonacci retracement level of 61.8% (also on the balance line of the daily timeframe, which breaks down today). The signal line of the Marlin oscillator of the daily chart is already in the trend decline zone.

On the H4 chart, the price was trading in the sideways under the balance and Krusenstern lines during these two days, the Marlin indicator was in the negative zone, and at the moment it is still in it. We are waiting for the kiwi to further decline towards the target level of 0.6704 – the Fibonacci level of 38.2%, coinciding with the lows of January 22 and November 12. The second target is the 23.6% Fibonacci level on the 0.6646 stage.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.