Hi Viewers,
Welcome to another post on analyzing forex currency pairs. This one is very interesting and can provide a very good entry opportunity.
Below image represents latest 1 hour candle chart for NZDUSD as on 15th May end of day. There is support line drawn which you can easily see and a trend line coming above it. The pair is currently on support and need to watch if there is strong bounce from the support. A good entry can be taken if it breaks up the trendline and stays there for sometime.
Second opportunity can be taken if the pair is not able to break the trendline and pullbacks breaking the big support which is already tested multiple times and looking weak.
Lets wait and watch how it moves further and one can plan there trades accordingly. Thanks for you time and do comment your views on this post. Please share to your friends and communities.
Stay safe and have a great week ahead!
Welcome to another post on analyzing forex currency pairs. This one is very interesting and can provide a very good entry opportunity.
Below image represents latest 1 hour candle chart for NZDUSD as on 15th May end of day. There is support line drawn which you can easily see and a trend line coming above it. The pair is currently on support and need to watch if there is strong bounce from the support. A good entry can be taken if it breaks up the trendline and stays there for sometime.
Second opportunity can be taken if the pair is not able to break the trendline and pullbacks breaking the big support which is already tested multiple times and looking weak.
Lets wait and watch how it moves further and one can plan there trades accordingly. Thanks for you time and do comment your views on this post. Please share to your friends and communities.
Stay safe and have a great week ahead!
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