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NZD/USD Potential Upward Movement

NZD/USD Long-Term Trend: Bullish

Key Resistance Levels: 0.7229, 0.7314, 0.7400

Key Support Levels: 0.7158, 0.7106, 0.7063

Daily Chart:

The price on the higher time frame is trending to the upside, where the pair entered inside a bullish flag formation. This pattern indicates a potential continuation of the main trend if the market succeeded to break it.

NZD/USD Medium-Term Trend: Bullish

1-hour Chart:

On the 1-hr time frame, the pair is trading inside an expanding wedge pattern where we expect a lower correction to the area of confluence. The zone is made by a strong support and the lower end of the wedge formation. This move could lead to a move upward in the same direction of the main trend.

Signal Idea:

Buy Limit Order @ 0.7192

TP 1 @ 0.7228

TP 2 @ 0.7314

Stop Loss @ 0.7175

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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