NZDUSD is presenting an interesting scenario on the charts. On the weekly time frame (TF), we’re seeing a downtrend, but shift to the daily TF and you'll notice an uptrend, marked by Higher Highs (HH) and Higher Lows (HL). The chart clearly shows the last HL on this timeframe. As long as the price doesn’t break below this last HL on the Daily TF and confirm the break, we’re still looking at an uptrend.
One thing to note – often, the price likes to test or even liquidate the last HL (especially on lower timeframes) before continuing its overall trend. This is just a heads-up for what to possibly expect.
Remember, this is purely my perspective on the market. Trading decisions are ultimately your responsibility. For more such insights, feel free to follow me on social media. Happy trading!
One thing to note – often, the price likes to test or even liquidate the last HL (especially on lower timeframes) before continuing its overall trend. This is just a heads-up for what to possibly expect.
Remember, this is purely my perspective on the market. Trading decisions are ultimately your responsibility. For more such insights, feel free to follow me on social media. Happy trading!