NZDUSD: The price is going to BREAK its SYMMETRICAL TRIANGLE
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🟢Forex Pair:
NZD/USD
⚪Technical Analysis:
Since the end of December 2020, the price has been moving creating an interesting symmetrical triangle, bouncing many times on its dynamic S/R lines.
It is currently on its dynamic support trendline and the next price action around that level will be essential to understand the next market movement.
🔴Conclusion:
The price is slowly getting weak and I'm confident to see it breaking through its triangle pattern and falling down until its support zone at about 0.71000.
Eventually the price will reach that level, I'll start planning my second short position on this trade.
The level 0.71420 could be an interesting entry point eventually the price will clearly close around that level.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
🟢Forex Pair:
NZD/USD
⚪Technical Analysis:
Since the end of December 2020, the price has been moving creating an interesting symmetrical triangle, bouncing many times on its dynamic S/R lines.
It is currently on its dynamic support trendline and the next price action around that level will be essential to understand the next market movement.
🔴Conclusion:
The price is slowly getting weak and I'm confident to see it breaking through its triangle pattern and falling down until its support zone at about 0.71000.
Eventually the price will reach that level, I'll start planning my second short position on this trade.
The level 0.71420 could be an interesting entry point eventually the price will clearly close around that level.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
