Warm your brains and observe data
Hello everyone
In this scenario price at NZDUSD currency pair haven't confirm any fact, but it's good to have NZDUSD in our minds. This pair might be good for trading later, we just need more data, more facts, before we hit a button for buy/sell. At the moment NZDUSD currency pair is in bearish trending and bearish territory.
One interesting thing at this pair is that bulls confirm lower low level at the last swing 0.67409 where they got stable and probably they're are not letting bears to get away so easily. This explanation is mean for 4H timeframe.
If we are following price from very start where last territory started, we can see strong bearish movement where red zone is marked. Things got complicated ones bulls snap back from confirmed lower low area at 0.67409. Price eventually reach up to 0.68190 new resistance level (buyers H1 higher high level). And here we go, we have one bearish movement on H4 timeframe and bullish movement on H1 timeframe. Bullish movement is now also observed for H4 timeframe, because price broke 0.67878 resistance level which was important for H4 bears.
To sum this up, I want to tell you price is headed downside with possible sideway trading or price is going to reach buyers H1 higher high second time. at 0.68190 level. This will cause rangging on h4 timeframe. If bulls can hold that position, we have to count in our analysis daily timeframe to.
Anyway, if price can broke 0.67409 support level, bearish side will continue trending.
Do not miss GBPCHF analysis.
In this scenario price at NZDUSD currency pair haven't confirm any fact, but it's good to have NZDUSD in our minds. This pair might be good for trading later, we just need more data, more facts, before we hit a button for buy/sell. At the moment NZDUSD currency pair is in bearish trending and bearish territory.
One interesting thing at this pair is that bulls confirm lower low level at the last swing 0.67409 where they got stable and probably they're are not letting bears to get away so easily. This explanation is mean for 4H timeframe.
If we are following price from very start where last territory started, we can see strong bearish movement where red zone is marked. Things got complicated ones bulls snap back from confirmed lower low area at 0.67409. Price eventually reach up to 0.68190 new resistance level (buyers H1 higher high level). And here we go, we have one bearish movement on H4 timeframe and bullish movement on H1 timeframe. Bullish movement is now also observed for H4 timeframe, because price broke 0.67878 resistance level which was important for H4 bears.
To sum this up, I want to tell you price is headed downside with possible sideway trading or price is going to reach buyers H1 higher high second time. at 0.68190 level. This will cause rangging on h4 timeframe. If bulls can hold that position, we have to count in our analysis daily timeframe to.
Anyway, if price can broke 0.67409 support level, bearish side will continue trending.
Do not miss GBPCHF analysis.
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.