NZDUSD | Perspective for the new weekA bullish trendline is identified in the 4H timeframe and this line also shares a confluence with a significant key level at 0.68250. We shall hereby be looking for a breakout of a reversal set-up for a signal to join the potential bullish trend. However, a breakdown/retest of key level might incite a risk of further decline hence the need to be very conscious as we monitor price action.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Nzdusdlong
Long Position NZDUSD 4HLong position established on the NZDUSD 4H
Price has recently made new highs
Bullish trendline touched and held +3x
Retracement to the 50% Fibonacci level
Price held at an area of previous structure support
MACD signal line just about made a new high relative to the most recent push higher by price
Bullish pin bar held at the 50% retracement followed by a higher high, higher close.
Entry price: 0.68441
Stop loss: 0.67940
Take profit: 0.69833
🐂NZD/USD LONGNZD/USD has broken areas of resistance on the daily chart.
We also see an invers head and shoulders on the weekly chart, signifying a bullish take over.
Price broke and retested the major support at 0.68700, and we should only sell once this level is broken.
Price is now forming what appears to be a bullish continuation pattern.
We should look for out first entries at the supporting trendline when market structure signifies bullish continuations, targets at the resistance above.
Second entries when the bugger resistance above is broken
OANDA:NZDUSD
What do you think will NZDUSD go long?Here are the reasons why I think it might go long.
1. Creates new higher high
2. Retraced to 0.618 Fib Level
3. Touches 3 times on the trendline
4. Stoch RSI is trying to exit the oversold area
5. Upward trend in the higher timeframe
Let me know your idea in the comments below
NZDUSD LONG - Buy Entry - H4 ChartNZDUSD LONG - Buy Entry - H4 Chart
Buy @ Market
Symbol: NZDUSD
Timeframe: H4
Type: BUY
Entry Price: Buy @ Market
Resistance @ 0.71561
Pivot Point Yearly @ 0.70035
Resistance @ 0.69774
Support @ 0.69142
Support @ 0.68767
✅ If you liked this analysis, please consider Following and giving it a Thumbs Up 👍
✅ If you have any feedback or questions, please leave a comment below as I answer each comment 💬
✅ Wishing you enjoyable successful trading 🙏
NZDUSDWe must observe the price movement in the lower time frame and search for the buy option as the NZDUSD price broke the structure and is currently retesting.
It's a good idea to swap. Just remember to control your risk, as prices might swing in the opposite direction. WAIT for turn into bullish environment iin 4hour