NZD has shown strength recently resulted in a bouce off the upward trendline (and in total 3 times). SL has been placed under both this structure and the horizontal support.
Price is moving upwards in the medium term. Expecting price to eventually meet the longer term downward Trendline...
Looking for a Long (Buy) trade.
Will have to wait and see how this...
Not being greedy on this one as it looks a bit risky. Target is 50 points with a stop loss at 17.5 points.
Alternatively it might breakout of the current trendline and drop but on the 1H chart the RSI has turned and it looks to be bouncing off the lower trendline.
I expect the price to break throough the 6300 mark and continue for a quickish 40 points. The price bounced off this level earlier in the week and the RSI has started an uptrend.
Even though the NZD is still week, it has broken through the bearish trend and has started to form a bullish trend . Even though today (30/05/2019) has shown a massive bearish movement that nocked it -0.50% - -0.56% from a bullish morning that reached upto 0.65888 (+0.30%). It has bounced of the last support @0.65517 and fallen within the bullsih trend. this could...
it had good impulse to the upside and it seems like its going though correction. we will only enter when it breaks the correction.
please use good risk management.
