NZDUSD: Is the price BREAKING through it SYMMETRICAL TRIANGLE?
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🟢Forex Pair:
NZD/USD
⚪Technical Analysis:
Since the end of December 2020, the price has been moving creating an interesting symmetrical triangle pattern, perfectly bouncing few times on its dynamic S/R trendline.
On the 18th and 28th of January 2021, the price reached and got a strong rejection on the support area at about 0.71000.
It's currently moving inside the pattern and the next daily session will be essential to understand the next movement.
🔴Conclusion:
In the daily time frame, we can see a strong bullish impulse started in November 2020, and I'm confident to see an upcoming clear trend correction.
The price is definitely giving us few signs of weakness and I'll be waiting a proper breakout of its chart pattern before planning my short position on this trade.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
🟢Forex Pair:
NZD/USD
⚪Technical Analysis:
Since the end of December 2020, the price has been moving creating an interesting symmetrical triangle pattern, perfectly bouncing few times on its dynamic S/R trendline.
On the 18th and 28th of January 2021, the price reached and got a strong rejection on the support area at about 0.71000.
It's currently moving inside the pattern and the next daily session will be essential to understand the next movement.
🔴Conclusion:
In the daily time frame, we can see a strong bullish impulse started in November 2020, and I'm confident to see an upcoming clear trend correction.
The price is definitely giving us few signs of weakness and I'll be waiting a proper breakout of its chart pattern before planning my short position on this trade.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
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