NZDUSD High probability buy at the bottom of the Channel Down.
The NZDUSD pair has gone a long way since the previous successful buy signal we gave (see chart below):
The Channel Down shifted higher but the price is once again found on its bottom (Lower Lows trend-line) giving us a new high probability buy opportunity. On top of that, it appears to be repeating the May 31 bottom as the RSI is on an identical sequence. As a result we expect a rise towards the 0.618 Fibonacci Channel level at 0.60500, which would be as close as possible to the 1D MA200 (orange trend-line) to test it as a Resistance.
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The Channel Down shifted higher but the price is once again found on its bottom (Lower Lows trend-line) giving us a new high probability buy opportunity. On top of that, it appears to be repeating the May 31 bottom as the RSI is on an identical sequence. As a result we expect a rise towards the 0.618 Fibonacci Channel level at 0.60500, which would be as close as possible to the 1D MA200 (orange trend-line) to test it as a Resistance.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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