NZDUSD H4 | FOREX BEE
Hey Traders,
NZD/USD H4 Chart Analysis
The provided H4 chart for NZD/USD indicates an ascending triangle pattern, a bullish continuation pattern. However, there are two potential scenarios based on price action:
Bullish Scenario:
Key Levels to Watch:
Resistance:** 0.57341 (Fibonacci 0.5 level).
Immediate Support:** 0.56339 (Fibonacci 0.236 level).
Major Support:** Around 0.55800.
Trading Strategy:
Buy Setup: Wait for a confirmed Bull candlestick from near trendline
Sell Setup: If price breaks below the trendline and retests 0.56339 a short position towards 0.55800 is possible.
Overall, watch price action near the key levels before taking a trade.
Trade closed: target reached
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Premium signals t.me/forexbee_admin ✅
My Free Telegram Channel: t.me/forexbeeofficial
website: forexbeesignals.com
My Free Telegram Channel: t.me/forexbeeofficial
website: forexbeesignals.com
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.