Last week, July 31 – August 4, 2017, looking at the 1day chart and the 1week chart, we see nzdusd further continue the downtrend. Nzdusd has further crossed the middle of the bbands and now approach the lower side of the bbands, with the lowest now at 0.7251. In the 1day chart, we now see the stoch(5,3,3) going downtrend and has already hit the bottom side and may now soon make bottom and reverse. while the macd still show downtrend signal and interestingly is now about to hit the zero level.
With the said conditions above, it is then the view that nzdusd will soon make bottom and reverse uptrend. With the recent break of the last long-term top at 0.7484, we now presume formation of a new top at 0.7557, and nzdusd will now continue the long-term downtrend. If then should nzdusd continue the downtrend, where then would it make bottom and reverse up. It is view that nzdusd has at least to make retracement and consolidation down, if not go downtrend all the way. Perhaps it is now time to look at the overall long-term trend which is the 1month chart,