NZD/USD Free Path to the Bullish Target
Good morning to all members of the community! We hope you have an excellent trading morning. Today we want to share our long-term vision on the NZD / USD pair, since this pair has been with an incredible movement during the last weeks, and, although the trend is intact, we were hoping you could take into account our price levels in case you have open positions.
What do we analyze in this chart?
🔸First, we can see that at the beginning of this year the price reached the lowest of the last ten years, but it remained in this area for a very short period of time.
🔸The recovery was vertical, generating, to date, an upward movement of approximately 30%.
🔸From a technical point of view, we see a decisive break of the descending trendline, where the price after breaking consolidated for a few weeks.
🔸By breaking out of the consolidation to the upside, I build the momentum that we are currently witnessing.
The question that many are asking is if there is still time to enter this bullish movement. The reality is that it is a bit late, but you can look for an opportunity.
🔸What we recommend in case you want to look for a bullish position, is to wait for a retracement to the broken resistance zone, and take that correction as the entry point to the market. In this way, you will have a good place to position the stop loss and an excellent Risk-Reward ratio towards the next Resistance zone.
What do we analyze in this chart?
🔸First, we can see that at the beginning of this year the price reached the lowest of the last ten years, but it remained in this area for a very short period of time.
🔸The recovery was vertical, generating, to date, an upward movement of approximately 30%.
🔸From a technical point of view, we see a decisive break of the descending trendline, where the price after breaking consolidated for a few weeks.
🔸By breaking out of the consolidation to the upside, I build the momentum that we are currently witnessing.
The question that many are asking is if there is still time to enter this bullish movement. The reality is that it is a bit late, but you can look for an opportunity.
🔸What we recommend in case you want to look for a bullish position, is to wait for a retracement to the broken resistance zone, and take that correction as the entry point to the market. In this way, you will have a good place to position the stop loss and an excellent Risk-Reward ratio towards the next Resistance zone.
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