The 4H chart shows NZD/USD forming a bullish structure with an ascending trendline support.
A breakout from the descending wedge pattern signals potential upside momentum.
The price is currently testing a key support zone near 0.5740, aligning with the 23.6% Fibonacci retracement level.
Trade Setup & Levels:
Entry Zone: Above 0.5740 (support holding)
Target 1 (TP1): 0.5817 – previous resistance
Target 2 (TP2): 0.6050 – Fibonacci 61.8% level
Stop Loss (SL): Below 0.5620 (previous support structure)
Bullish Confirmation Factors:
✅ Trendline support remains intact, preventing further downside.
✅ Breakout from wedge pattern, indicating buying pressure.
✅ Higher lows formation, showing gradual accumulation of demand.
Conclusion:
A confirmed breakout above 0.5817 will validate the bullish move toward 0.6050. If price sustains above the resistance, we expect further upside momentum in the coming sessions. 📈
A breakout from the descending wedge pattern signals potential upside momentum.
The price is currently testing a key support zone near 0.5740, aligning with the 23.6% Fibonacci retracement level.
Trade Setup & Levels:
Entry Zone: Above 0.5740 (support holding)
Target 1 (TP1): 0.5817 – previous resistance
Target 2 (TP2): 0.6050 – Fibonacci 61.8% level
Stop Loss (SL): Below 0.5620 (previous support structure)
Bullish Confirmation Factors:
✅ Trendline support remains intact, preventing further downside.
✅ Breakout from wedge pattern, indicating buying pressure.
✅ Higher lows formation, showing gradual accumulation of demand.
Conclusion:
A confirmed breakout above 0.5817 will validate the bullish move toward 0.6050. If price sustains above the resistance, we expect further upside momentum in the coming sessions. 📈
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Disclaimer
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📈Forex Telegram Alerts
🥇95% Accurate Signals
♻️1-2 Daily Signals
✔️Free Daily Profitable Signals
⤵️‼️Join us on Telegram‼️⤵️
📱Telegram:➡️ t.me/ultreos_forex
Website:- ultreosforex.com/
🥇95% Accurate Signals
♻️1-2 Daily Signals
✔️Free Daily Profitable Signals
⤵️‼️Join us on Telegram‼️⤵️
📱Telegram:➡️ t.me/ultreos_forex
Website:- ultreosforex.com/
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.