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NZD/USD Potential Upward Movement

NZD/USD Long-Term Trend: Bullish

Key Resistance Levels: 0.68477, 0.68871, 0.69000.

Key Support Levels: 0.68083, 0.67756, 0.67414.

Daily Time Frame:

The price on the higher time frame is in a clear upward movement where higher highs and lows has been posted. The market posted a huge bear bodied bar which appears to be a trap for bears. The price rebounded quickly and now it is about to move upward again.

NZD/USD Medium-Term Trend: Bullish

1-Hr Time Frame:

On the lower time frame, the buyers succeeded to break the bearish trend line to the upside after a double bottom formation. A lower correction could be posted to the support level to bring back liquidity before a new bullish impulsive wave toward the target profits.

Buy Limit Order @ 0.68083

Target Profit 1 @ 0.68477

Target Profit 2 @ 0.68871

Stop Loss @ 0.67689

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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