NZD/USD - Intraday Observation
Despite the triangle formation on the weekly chart the intraday chart reveals some more interesting insights.
Once the last W-formation is completed the pair should after a brief pause enter into the new trading territory. It remains to be seen whether or not the upper trendline is the next resistance along the way to the upper band of the then new trading range. For a long term view please see my analysis on the weekly basis.
Nevertheless, the next target after the breakout is 0.8532.
On the other side watch the dotted line as it might/does form a wedge that should not be broken on a daily basis. Just in case it does so in the next few days we will see if the boundaries of the trading ranges will hold for support
Once the last W-formation is completed the pair should after a brief pause enter into the new trading territory. It remains to be seen whether or not the upper trendline is the next resistance along the way to the upper band of the then new trading range. For a long term view please see my analysis on the weekly basis.
Nevertheless, the next target after the breakout is 0.8532.
On the other side watch the dotted line as it might/does form a wedge that should not be broken on a daily basis. Just in case it does so in the next few days we will see if the boundaries of the trading ranges will hold for support
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.
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.