NZD/USD-Daily analysis
Hello everybody!
-On pair NZD/USD i have noticed that price recently broke strong support line,...On lower time frames like 1 hour and 4 hours we can see that price retested again that support that now becomes resistance(blue lower line).
-Second thing that i have noticed is that resistance line(yellow line) of double top(yellow circle) now can become new support line,we can see how price will react if it hits yellow line,and then we can be sure what to do(to buy or to sell).
-The price was moving in ascending channel since first of October 2019. and recently price broke that strong resistance line and retested few times that line on lower time frames.
-On daily base NZD is little bit weaker than USD and on weekly base USD is stronger for 22 points than NZD...So the price may continue to fall in bearish direction if this stays same during the week,...I will wait and see what price is going to do at Monday and i will also wait for fundamental news.
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support,i will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.The information given is not a Financial Advise.
-On pair NZD/USD i have noticed that price recently broke strong support line,...On lower time frames like 1 hour and 4 hours we can see that price retested again that support that now becomes resistance(blue lower line).
-Second thing that i have noticed is that resistance line(yellow line) of double top(yellow circle) now can become new support line,we can see how price will react if it hits yellow line,and then we can be sure what to do(to buy or to sell).
-The price was moving in ascending channel since first of October 2019. and recently price broke that strong resistance line and retested few times that line on lower time frames.
-On daily base NZD is little bit weaker than USD and on weekly base USD is stronger for 22 points than NZD...So the price may continue to fall in bearish direction if this stays same during the week,...I will wait and see what price is going to do at Monday and i will also wait for fundamental news.
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support,i will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.The information given is not a Financial Advise.
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