Baxia Markets
September 01, 2021

Upward Trend May Continue on NZDUSD

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The price has been rising for more than ten days; we only see some small fluctuations that could not change the direction during this process. The upward trend seems powerful for now. Will the price continue to go up?




The upward trend seems solid. The price line touches the upward Bollinger Bands several times; however, it still did not impact the direction of the price line. Also, the Stochastics were supposed to be oversold after such a long upward movement; however, it is still within the normal level, comparatively high. RSI is also at the high level, around 70, but I do not consider this overbought yet, still below the 80 levels. The parabolic SAR is showing a bullish signal. For now, the bullish signals seem to dominate. But there is still one thing we need to pay attention to, the Ichimoku cloud. Recently, the latest part of the Ichimoku cloud went up and got thicker. Now let’s pay more attention to this indicator and see if other indicators change the direction.


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