OctaFX | OctaFX Forex Broker
Open trading account
Back

NZD/USD closes the week with a Doji

The emergence of a Southern doji pattern on the NZD/USD weekly chart suggests a certain degree of exhaustion in the market.

During a decline, this candlestick pattern usually changes the market's short-term trend from down to neutral. In this case, with the RSI below 40% on this time frame, the likelihood of a reversal from oversold territory increases.

Additionally, an ADX above 30 is indicative of a persistent trend at least. Technically oriented position traders may use this signal to liquidate shorts, sell puts, and move down stops.

Colombia Interest rate: 4.75% (September) vs 4.5%

Colombia Interest rate: 4.75% (September) vs 4.5%
Read more Previous

AUD/USd awaiting the week's events to unfold

AUD/USD is currently trading at 0.7023 with a high of 0.7031 and low of 0.7023.
Read more Next
Start livechat