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NZD/USD Potential Upward Movement

NZD/USD Long-Term Trend: Bullish

Key Resistance Levels: 0.61959, 0.62154, 0.62416

Key Support Levels: 0.61591, 0.61318, 0.60788

4-Hour Chart:

The price on the higher time frame has been in an uptrend recently after it found support at the 0.59919 level and bounced back. The pair has continued to break a few resistance levels which suggests further trend continuation.

NZD/USD Medium-Term Trend: Bullish

30-Minute Chart:

On the lower time frame, the pair is moving in the major trend’s direction. It broke a consolidation zone of 0.60788 and 0.61318 and has sustained above that. As of now the pair has broken and retested a minor level of 0.61591 before continuing the momentum. 

Signal Idea:

Buy Stop Order @ 0.61742

TP @ 0.61919

Stop Loss @ 0.61565

Trade Safely 🙂

About Vipul Rathaur

A trader with more than six years of experience, Vipul is a discretionary trader and uses multi time frame analysis for his analysis and price action for his trade signals. Believes that risk management is the secret to making it in this world. He trades major Forex pairs, Indices, and Commodities.

One comment

  1. I changed the stop loss at 0.61770 and it smashed it. I should have left it alone and i could earned the TP of 0.61919.

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