Price Attempting Breakout
Similar to the EURNZD, price at the momentum is trying to breakout higher.
The difference in this market is that price has been in a trend higher on the daily charts since March of this year.
This breakout would be inline with the trend and would be forming a new higher high.
Similar to the EURNZD, we could watch the breakout old resistance to hold as a new potential price flip support level for long trades should price quickly rotate lower on the smaller time frames.
The difference in this market is that price has been in a trend higher on the daily charts since March of this year.
This breakout would be inline with the trend and would be forming a new higher high.
Similar to the EURNZD, we could watch the breakout old resistance to hold as a new potential price flip support level for long trades should price quickly rotate lower on the smaller time frames.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.