In a previous post, we were looking at a simple falling wedge and channel breakout.
Now it appears there might be two channels and a falling wedge in the formation. NZD/USD is currently testing the first trend line after having touched the second trend line on Friday.
The previous comments are below:
"NZD/USD broke out of a falling wedge pattern and now appears to have broken out of the corresponding channel. The rate remains above the 100 SMA. These are bullish indicators for the NZD/USD pair.
As long as these conditions hold, the NZD/USD is bullish and we will remain long."
Good Luck!
Now it appears there might be two channels and a falling wedge in the formation. NZD/USD is currently testing the first trend line after having touched the second trend line on Friday.
The previous comments are below:
"NZD/USD broke out of a falling wedge pattern and now appears to have broken out of the corresponding channel. The rate remains above the 100 SMA. These are bullish indicators for the NZD/USD pair.
As long as these conditions hold, the NZD/USD is bullish and we will remain long."
Good Luck!