NZD/USD Forecast March 1, 2016, Technical Analysis

The NZD/USD pair gapped lower at the open on Monday, and then turned back around to fill that gap or finding sellers. Ultimately, we do believe that this market goes much lower, and then probably reaches down towards the 0.64 level given enough time. There no interest in buying this market, and therefore we simply wait for exhaustive candles in order to start selling. With exhaustive candle that we saw on Friday, we believe that the selling pressure will continue, and therefore this is a “one-way” trade at this point in time.