NZDUSD: Double Bottom and Buy Opportunity
The market forms a double bottom, which is a trend reversal pattern.
RSI is going to confirm one more time the price reversal from 0.63780 support. The same goes for MACD histogram.
If we get a bullish candle at the support, it will be possible to search for a buy opportunity using the hourly timeframes. Buy trades should be opened based on reversal signals with stop orders below 0.63780 and the main profit target at 0.64875 resistance.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
RSI is going to confirm one more time the price reversal from 0.63780 support. The same goes for MACD histogram.
If we get a bullish candle at the support, it will be possible to search for a buy opportunity using the hourly timeframes. Buy trades should be opened based on reversal signals with stop orders below 0.63780 and the main profit target at 0.64875 resistance.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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