Thursday, July 2, 2015

Possible hammer formation on the NZD/USD

The Kiwi versus the Greenback breaks below the 0.6700 level, but it couldn’t stay below that level and goes back up, leaving behind a relatively long lower shadow. We are on the Daily chart and if this Friday’s candle closes bullish, then it will confirm the hammer formation, which is a bullish reversal pattern. But a change in trend on the pair would not be confirmed until the price breaks above the trendline or above the 0.6900 level. 


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