NZDUSD is in a downtrend according to Ichimoku on multiple timeframes. 1D, 4H, 1H are all lining up for a trend continuation to the downside.
Interestingly (and importantly) we have a really good confirmation in USD strength AND NZD weakness. When you line this up on a currency strength scanner it is easy to see strength and weakness across multiple timeframes. This is a very powerful signal that a trend is likely to persist.
As with any trade, don't just jump in. Wait for a good opportunity on the 15m or 5m chart. Use Ichimoku to confirm the downtrend, and then enter.
If I were to trade USD strength another way, I would also look to EURUSD, as EUR is also showing weakness. Other pairs don't present this same opportunity for high R:R trading.
Note: TradingView scales the images of the chart based on screen size. The properly annotated chart image is below:
Interestingly (and importantly) we have a really good confirmation in USD strength AND NZD weakness. When you line this up on a currency strength scanner it is easy to see strength and weakness across multiple timeframes. This is a very powerful signal that a trend is likely to persist.
As with any trade, don't just jump in. Wait for a good opportunity on the 15m or 5m chart. Use Ichimoku to confirm the downtrend, and then enter.
If I were to trade USD strength another way, I would also look to EURUSD, as EUR is also showing weakness. Other pairs don't present this same opportunity for high R:R trading.
Note: TradingView scales the images of the chart based on screen size. The properly annotated chart image is below: