SasanSeifi| NZD/USD,4-Hour
Updated
Hey there, ✌ In the short-term 4-hour timeframe, we’ve observed a bearish trend starting from the 0.63700 price range. The recent breakdown below the 0.62500 level has pushed the price down to the 0.62000 zone, showing some corrective movement.
Currently, the price is trading around 0.62000.my short-term outlook leans toward further downside towards targets at 0.61700 and the demand zone below.
However, if we see signs of weakening momentum around 0.62000, there is a possibility that the market could enter a ranging phase. In such a scenario, potential pullbacks could bring the price up to levels of 0.62350, 0.62500, and 0.62750 as a corrective move before resuming the bearish trend.
To better understand the market's direction, it’s crucial to monitor price reactions in these zones.
Alternative Scenario: Price Correction Another scenario to consider is continued price correction. In this case, we expect the price to make a corrective move towards our targets. If the market enters a range and confirms the price action, we could then see positive fluctuations from the specified targets and the demand zone.
This analysis is my personal viewpoint and not financial advice. If you found this helpful, please like and comment – I’d love to hear your thoughts! Happy trading! ✌😊
Currently, the price is trading around 0.62000.my short-term outlook leans toward further downside towards targets at 0.61700 and the demand zone below.
However, if we see signs of weakening momentum around 0.62000, there is a possibility that the market could enter a ranging phase. In such a scenario, potential pullbacks could bring the price up to levels of 0.62350, 0.62500, and 0.62750 as a corrective move before resuming the bearish trend.
To better understand the market's direction, it’s crucial to monitor price reactions in these zones.
Alternative Scenario: Price Correction Another scenario to consider is continued price correction. In this case, we expect the price to make a corrective move towards our targets. If the market enters a range and confirms the price action, we could then see positive fluctuations from the specified targets and the demand zone.
This analysis is my personal viewpoint and not financial advice. If you found this helpful, please like and comment – I’d love to hear your thoughts! Happy trading! ✌😊
Note
In the short-term 4-hour time frame, it can be observed that a downward trend began from the price range of 0.63700. Following the break of the low at 0.62500, the price experienced a significant correction. In the last analysis, the short-term outlook leaned more towards continued decline towards the targets of 0.61700 and the demand zone.
According to the second scenario, the price has indeed dropped approximately 71 pips to the corrective target of 0.61700 and the demand zone. Currently, if we see confirmation of a buy signal within these price ranges, there is a possibility of minor positive fluctuations up to the levels of 0.6200 to 0.62500.
On the other hand, if the price encounters resistance after a range-bound phase, breaking below the 0.6100 level and stabilizing there would increase the likelihood of further corrections.
Trade active
In the above analysis, the price had entered a ranging phase and, after failing to hold the support level, corrected down to the 0.60600 range. Now, if a proper buy confirmation is received in this zone, the price may enter a ranging phase again and experience slight positive fluctuations, along with a pullback to higher levels. Otherwise, if selling pressure continues and the price consolidates below the 0.60600 level, further corrections are expected down to the 0.60 – 0.59500 range.
Trade closed: target reached
As observed, the price has faced a bearish trend and, after breaking through the initial support level of 0.60, it has corrected down to the second support range of 0.59600. Currently, if the 0.59500 range holds and a buy confirmation is observed, the possibility of slight positive fluctuations towards 0.60 – 0.60350 can be considered. In case of positive fluctuations, to better understand the next movement, it will be important to see how the price reacts. After these minor fluctuations, a pullback might occur, leading to a continuation of the bearish trend down to 0.59.
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🌎Website (Persian): FiboTech.Trade
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