NZDUSD: Wait for Reversal from The Uptrend Line
The market should be added to a watchlist. This week, we will be able to get a trade opportunity. The price is not far from the main uptrend line. The price action at this line will be able to give us a good buy opportunity.
The market has room for further downward movement. MACD and RSI are bearish. DMI tells us about the range market conditions. What does it mean? It means that the price can reach the trend line and bounce, as sellers are not so strong to break it.
Use trend reversal and breakout signals from the low timeframes and reversal signals from the 4H, 6H, and the daily charts. Don't forget about proper risk management. The estimated zone for buying should be between 0.65500 and 0.65225 levels.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
The market has room for further downward movement. MACD and RSI are bearish. DMI tells us about the range market conditions. What does it mean? It means that the price can reach the trend line and bounce, as sellers are not so strong to break it.
Use trend reversal and breakout signals from the low timeframes and reversal signals from the 4H, 6H, and the daily charts. Don't forget about proper risk management. The estimated zone for buying should be between 0.65500 and 0.65225 levels.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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.