This is a chart of New Zealand dollar versus US dollar.
This chart shows that this instrument present trend is within a 4 month uptrend.
In my previous chart it appears that the market is forming a cup and handle pattern, but it could also be viewed as a inverted head and shoulders.
in my opinion, 0.65 is a great entry for longs in the direction of the ongoing trend. We also have the channel supported by a 50% fib level which is actually very important of the cup and handle formation.
Make sure you leave a like as a sign of appreciation of my time and I will thank you aswell for taking yours.
Also check the related idea for the previous posts.
Happy trading and good luck to everyone buying New Zealand dollar!
This chart shows that this instrument present trend is within a 4 month uptrend.
In my previous chart it appears that the market is forming a cup and handle pattern, but it could also be viewed as a inverted head and shoulders.
in my opinion, 0.65 is a great entry for longs in the direction of the ongoing trend. We also have the channel supported by a 50% fib level which is actually very important of the cup and handle formation.
Make sure you leave a like as a sign of appreciation of my time and I will thank you aswell for taking yours.
Also check the related idea for the previous posts.
Happy trading and good luck to everyone buying New Zealand dollar!
