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NZD/USD Potential Upward Movement

NZD/USD Potential Upward Movement

Key Resistance Levels: 0.72960, 0.74270, 0.75000.

Key Support Levels: 0.71517, 0.70935, 0.70900.

Daily Chart:

The price on the higher time frame is posting higher highs and lows indicating that the trend is clearly upward. It posted a correction count near the daily support (0.7150) and now it is time to continue its main direction upward toward the next key resistance level.

NZD/USD Medium-Term Trend: Bullish

4-Hr Chart:

On the lower time frame, the pair succeeded to break the bullish flag formation to the upside after finding buyers near the 61.80% Fibonacci retracement level. A lower correction could be seen to the bespoke support before a new impulsive wave toward the targe profits.

Signal Idea:

Buy Limit Order @ 0.71568

TP 1 @ 0.72857

TP 2 @ 0.74250

Stop Loss @ 0.71072

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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