NZD/USD-Daily overview
Hello everyone!
-On a daily time frame we can see that the price reached the upper trendline of an ascending channel and we can see that the price tested and rejected that zone with a bearish candle.
-I am expecting that the price is going to form a shooting star candle which is also a very good sign that the trend might change.
-The Stochastic indicator is showing us an overbought area which is also an additional sign that the bears might take some momentum.
-BUT before taking an action you can wait until the closing of the daily candle and you can find an entry on a lower time frame such as 1h and 4h.
-Before taking action in Forex, please check the economic calendar and currency strength meter.
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not Financial advice.
-On a daily time frame we can see that the price reached the upper trendline of an ascending channel and we can see that the price tested and rejected that zone with a bearish candle.
-I am expecting that the price is going to form a shooting star candle which is also a very good sign that the trend might change.
-The Stochastic indicator is showing us an overbought area which is also an additional sign that the bears might take some momentum.
-BUT before taking an action you can wait until the closing of the daily candle and you can find an entry on a lower time frame such as 1h and 4h.
-Before taking action in Forex, please check the economic calendar and currency strength meter.
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not Financial advice.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.