Home Free Forex Signals and Forecast: Buy NZD/USD – 09 September 2021
Forex Trading Signals

Free Forex Signals and Forecast: Buy NZD/USD – 09 September 2021

Our free forex signals service today looks at a high probability trade setup for the NZD/USD. We have the entry, stop and take profits levels for you.

The NZD/USD pair, which closed in negative territory for the first two days of the week, plunged to a six-day low at the start of the European session before showing a modest recovery. At the time of writing, the pair had remained broadly unchanged throughout the day, around 0.7100.

-If you are interested in forex day trading then have a read of our guide to getting started-

Despite the recent gains in the dollar, the NZD/USD pair has been unable to gain traction. US dollar index currently stands at 92.63, down 0.07%. However, risky market conditions will help the dollar find demand on Wednesday in the absence of fundamentals. Major European stocks experienced losses of 0.6-0.9%, in line with the gloomy mood.

The NZD/USD market is currently more concerned about the European Central Bank’s (ECB) monetary policy decision, which adds to the risk-averse sentiment amid mixed messages from policymakers. Robert Holtzmann of the ECB supported a faster cut, while Bostjan Vasle said monetary policy should be “very flexible.”

US diplomats also added doubt about President Joe Biden’s six-figure strategy, which will be announced on Thursday, and Jerome Powell’s reappointment as Fed chair to sway opinion. Moreover, Republican and Democrat signals suggest a bumpy road to stimulate the US economy, dampened sentiment and increasing demand for the dollar as a safe haven.

Against the backdrop of these events on Thursday, the US 10-year Treasury yield fell 3.5 basis points to 1.322%. In addition, the US dollar index (DXY) is clinging to a two-week high during a three-day rally.

NZD/USD free forex signals

NZD/USD free forex signals

Instrument: NZD/USD
Order Type: SELL STOP
Entry price: 0.7073
Stop Loss: 0.7120
TP1: 0.7019

Our Risk Setting: 1%
Risk / Reward Ratio: 1:1.1

Looking to trade forex now? Invest at eToro!

75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.


Saqib Iqbal

Saqib Iqbal

Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis.