NZDUSD - Possible short term upside H4
Good night evertyone,
NZDUSD is being on a downtrend for some days already and its so far respecting the descending trendline (yellow), now it looks like it'll test it one more time.
We have a confirmed support level at .67200 and a slighty RSI bullish divergence.
Should price break and close above the descending trendline its possible to aim current resistance AND sma200 at .68000 zone.
This Trading Idea is to be used for educational purposes only. This idea does not represent financial advice and its NOT a signal. You should trade based only on your own technic and knowledge.
NZDUSD is being on a downtrend for some days already and its so far respecting the descending trendline (yellow), now it looks like it'll test it one more time.
We have a confirmed support level at .67200 and a slighty RSI bullish divergence.
Should price break and close above the descending trendline its possible to aim current resistance AND sma200 at .68000 zone.
This Trading Idea is to be used for educational purposes only. This idea does not represent financial advice and its NOT a signal. You should trade based only on your own technic and knowledge.
Yorum:
50 ema were a big resistance, now looks like nzdusd will re-test current bottom, if the support is broken with a h4 candle closing under, then its better to exit this long position
Yorum:
Good pin bar on support level, if the candle doesnt close under this level then the upside is still possible, lets see how it'll behave now.
50EMA showed some resistance, lets see how P.A will behave now.