NZDUSD BUYSSSSS!
Aktualisiert
I am considering buying NZD/USD (New Zealand Dollar/U.S. Dollar) due to several significant technical factors that indicate a potential bullish breakout. The key factors influencing my decision are the recent upside breakout of NZD/USD from its weekly trend line and the downside break of the USD (DXY) from its weekly/monthly pattern.
One noteworthy aspect of the current NZD/USD setup is the historical resistance-turned-support level observed on both the daily and weekly price charts. This means that a previously strong resistance zone has now transformed into a support zone, adding to the bullish case for the currency pair.Similarly, on the weekly chart, a similar resistance-turned-support phenomenon is visible. The price of NZD/USD broke above a long-standing resistance area, indicating increased buying pressure. The subsequent behavior of the price, which finds support around this level, further reinforces the notion that the market sentiment has turned bullish.
Taking into account the support-resistance flip on both the daily and weekly price charts, along with the earlier mentioned bullish breakout from the weekly trendline and the downside break of the USD, I am optimistic about the potential for NZD/USD to continue its upward movement.
One noteworthy aspect of the current NZD/USD setup is the historical resistance-turned-support level observed on both the daily and weekly price charts. This means that a previously strong resistance zone has now transformed into a support zone, adding to the bullish case for the currency pair.Similarly, on the weekly chart, a similar resistance-turned-support phenomenon is visible. The price of NZD/USD broke above a long-standing resistance area, indicating increased buying pressure. The subsequent behavior of the price, which finds support around this level, further reinforces the notion that the market sentiment has turned bullish.
Taking into account the support-resistance flip on both the daily and weekly price charts, along with the earlier mentioned bullish breakout from the weekly trendline and the downside break of the USD, I am optimistic about the potential for NZD/USD to continue its upward movement.
Anmerkung
Looking to buy around this level Target will be .69300
This might take awhile to reach but in the short term .65756 is are next target
Haftungsausschluss
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