. There is a possibility of temporary retracement to suggested support line (0.9030). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. NZDSGD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
Not sure about this trade. It looks like its setup nicely for another move down as price has retraced into resistance and is now printing indecision candles at this important level. Plenty of room for a 200pip move down.
However, I am not keen on the large rejection candle on the daily and how the previous weekly candle closed.
If I take this, I'd wait for price...
This is a potential long on the NZDSGD. We already caught a small 95 pip move off the bull flag and now we're getting a a little nested pullback (which as you know I really like and its better seen on the 4 hour). I will look to go long on further bullish momentum or break of the 4 hour trendline. There seems to be some room for a nice big move up into trendline +...
Broke uptrend support line
Currently re-testing the support turn resistance line at at 0.96125
Reject prices at 0.96125 horizontal resistance line.
Potentially forming triple top rejection.
Stop Loss: 0.964
Risk:Reward = 1:2
Spotted a XABCD pattern that occurred and this indicates that the market will long.
Last move before the market closed, retracement showed 0.618 which indicates the pull back to go long and the profit target used shows a desired profit area of 2.618.
Small stop loss but should look like a potential market to follow as there are long opportunities to seize in the moment.