NZDUSD has finished the weekly correction process and is in a daily downtrend. In the sub-time, the 4-hour correction patterns are shown, and now the 4-hour buliish initial pattern is being formed. If the rising wave continues, it can be a daily correction process, and if the rising wave continues for 4 hours, it becomes a pattern that can be propagated as a daily rising wave, so it can be propagated as a weekly correction or monthly correction process.
However, there is a 4 hour supply zone and a daily supply zone on the top, so breaking through this resistance zone will be the key.
In particular, if pushed in the daily supply zone, it is a position where a daily downward wave can follow.
Conversely, if it stays below the daily supply zone or fails to break through, there will be a downtrend that can renew the bottom.
However, there is a 4 hour supply zone and a daily supply zone on the top, so breaking through this resistance zone will be the key.
In particular, if pushed in the daily supply zone, it is a position where a daily downward wave can follow.
Conversely, if it stays below the daily supply zone or fails to break through, there will be a downtrend that can renew the bottom.
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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.