Lingrid | NZDUSD Trend Continuation Trade. Long for FX:NZDUSD by Lingrid

Lingrid | NZDUSD Trend Continuation Trade. Long

market continues to establish higher highs and higher lows, showing bullish momentum. It broke and closed above the key level of 0.570000. Overall, the market is forming an ABCD move. The price pulled back towards the support level, then bounced off it, taking out the liquidity below. Furthermore, on the daily timeframe, the price made a fake breakout of the previous day's low. Considering this fake breakout, it could signal a trend continuation, completing the ABCD move. I expect the price moving higher, potentially retesting the November low. My goal is resistance one around 0.57800

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻

Lingrid

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