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NZD/USD Potential Upward Movement

NZD/USD Long-Term Trend: Bullish

Key Resistance Levels: 0.68600, 0.69212, 0.69431.

Key Support Levels: 0.68109, 0.67375, 0.67000.

Daily Time Frame:

The price on the higher time frame managed to break the bearish channel to the upside after posting an engulfing bullish pattern near the bottom of the pattern. The market changed direction and moved from downward movement to an upward by posting higher lows.

NZD/USD Medium-Term Trend: Bullish

1-Hr Time Frame:

On the lower time frame, the price is bouncing inside a bullish where it has a bias to break it to the upside. A lower correction could be seen to the highlighted area before a new bullish impulsive wave toward the target profits.

Buy Limit Order @ 0.68105

TP 1 @ 0.68578

TP 2 @ 0.69212

Stop Loss @ 0.67869

Trade Safely 🙂

In many cases we manually use market orders instead of pending orders to trade the trading ideas we send you. This is higher risk, and you can decide if it suits your trading style.

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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