We’re currently observing a promising range-bound setup on the NZD/USD 1H chart.
Market Structure: Price is trading within a well-defined horizontal range between 0.58675 (Support) and 0.59691 (Resistance). After a recent pullback from the upper range boundary, the pair has found support near the lower boundary and is now showing signs of bullish intent.
Trade Idea: The price is expected to continue its movement within the range. Given the rejection near support and the potential for bullish momentum, this setup offers a favorable risk-to-reward opportunity.
Entry: Around current price level (~0.59030)
Target: Upper boundary of the range (0.59687 - 0.59691)
Stop Loss: Below the support zone (~0.58666)
Bias: Bullish
This is a classic range play, aiming for a bounce off support toward resistance. As long as the support level holds, the upside potential remains intact.
Disclaimer: This is not financial advice. Always do your own analysis and manage risk accordingly.
Market Structure: Price is trading within a well-defined horizontal range between 0.58675 (Support) and 0.59691 (Resistance). After a recent pullback from the upper range boundary, the pair has found support near the lower boundary and is now showing signs of bullish intent.
Trade Idea: The price is expected to continue its movement within the range. Given the rejection near support and the potential for bullish momentum, this setup offers a favorable risk-to-reward opportunity.
Entry: Around current price level (~0.59030)
Target: Upper boundary of the range (0.59687 - 0.59691)
Stop Loss: Below the support zone (~0.58666)
Bias: Bullish
This is a classic range play, aiming for a bounce off support toward resistance. As long as the support level holds, the upside potential remains intact.
Disclaimer: This is not financial advice. Always do your own analysis and manage risk accordingly.
Trade active
hold guys, confirm target Trade closed: target reached
Fantastic! Successful target! Enjoy guys!
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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.
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.