Forex USDNOK : Strong daily supply imbalance created higher at 0.77153
5th April 2019
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Forex NZDUSD supply and demand analysis forecast with weekly supply level in control and new imbalances being created on the way down to opposing weekly demand level. There is a clear short bias on NZDUSD Forex cross pair with new supply zones being created and demand being eliminated.

Price fell short of retracing to last daily supply level, trying to break lower with weekly supply level in control. Supply and demand technical analysis tells us that only selling NZDUSD Forex cross pair is possible based on the creation of new strong supply levels.

As supply and demand traders, we do not need to pay attention to the news, fundamentals or any earnings reports.

Alfonso Moreno
Alfonso Moreno
Full time trader, expert technical analyst and founder of Set and Forget supply and demand online trading community. Traveler, photographer and adventurer.

4 Comments

  1. Howard Hill says:

    I see a weekly demand zone based on the body of the hammer created in week ending 12/31/18. There have been 2 tests to slightly above this level. Current price is the 3rd test with good down momentum and which has not yet been rejected.

  2. Howard Hill says:

    What are the red, green, white and black candles that you use?

  3. John Henson says:

    I think the comment from Alphonse should read..

    White and BLACK are bullish and bearish candlesticks. (not white and red).

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