Continuation of the downward trend or a possible price reversal?

NZDUSD |Continuation of the downward trend or a possible price reversal?

On the bigger time frame, the price is moving in a strong bearish trend.
It will be needed a lot of power for the price to change the direction of the predominant trend.

Technical Analysis:
Since 02-May-22 the price is moving within a strong support area from the downside
and a strong resistance area from the upper part of the structure.

After the price tested the support line for the third time it looks like it can increase again.

This can be a continuation of the downward trend or a possible price reversal considering how
the price is actually developing. It is not that easy as a trade.
On the other hand USD is not giving up from the strong bullish position and it can push the price
lower again.

Thank you and Good Luck!

Kommentar:

Kommentar:

NZDUSD | Decision Time

Kommentar:

Trade geschlossen: Ziel wurde erreicht: