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NZD/USD Potential Upward Movement

NZD/USD Long-Term Trend: Bullish

Key Resistance Levels: 0.68279, 0.68460, 0.68677.

Key Support Levels: 0.67936, 0.67778, 0.67652.

1-Hr Frame:

The price on the higher time frame succeeded to break the bearish trendline to the upside after a Wyckoff accumulation phase. This gave the power to the buyers to reverse the market and push it all the way up.

NZD/USD Medium-Term Trend: Bullish

5-Mins Time Frame:

On the lower time frame, the price was respecting the support trendline and started to post higher highs and lows showing that we are in a new trend to the upside. A lower correction could be seen before a new bullish impulsive wave toward the target profits.

Buy Limit Order @ 0.67927

TP 1 @ 0.68261

TP 2 @ 0.68460

Stop Loss @ 0.67760

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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