NZD/USD scenario
We can recognize very unstable movement of the price. With setting the Pitchfork, we can see that the price have reached the bottom line, main support level of the price. Also the price is at the edge of oversold condition which indicate that the price should move upwards. With setting some of the major trend lines, we can see connections between them. The price is expected to move upwards to the 50%, then after looking the previous structure of the price movement, we can predict short retracement to the 25% line. If there is not any great strong breaking bearish bars, its considered that the price should move up to the major resist level.
Good luck traders, hope you have a good trade !
Please let a comment below .!
Good luck traders, hope you have a good trade !
Please let a comment below .!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.