Evening Traders,
Today’s analysis – NZDUSD- trading at a key trade location where a bounce is probable,
Points to consider,
- Price Action Corrective
- Local OB Support
- .618 Fibonacci Support
- Swing High Objective
- Low Volume
NZDUSD’s immediate price action is trading at aa key location that has technical confluence with the Local OB and the .618 Fibonacci, allowing for a bullish bias.
The immediate objective is the swing high, this will become more probable when the POC is reclaimed.
The current volume is considered low, an influx will imminent on the next expansion.
Overall, in my opinion, NZDUSD is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
The market can stay irrational longer than you can stay solvent. - John Maynard Keynes
Today’s analysis – NZDUSD- trading at a key trade location where a bounce is probable,
Points to consider,
- Price Action Corrective
- Local OB Support
- .618 Fibonacci Support
- Swing High Objective
- Low Volume
NZDUSD’s immediate price action is trading at aa key location that has technical confluence with the Local OB and the .618 Fibonacci, allowing for a bullish bias.
The immediate objective is the swing high, this will become more probable when the POC is reclaimed.
The current volume is considered low, an influx will imminent on the next expansion.
Overall, in my opinion, NZDUSD is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
The market can stay irrational longer than you can stay solvent. - John Maynard Keynes