cryptoqueenb

NZD/USD is interacting with strong zone of resistance and 20 EMA in bullish trend on weekly, daily and 4rhly. after double to pattern we looking to long the market.

The market is generally in uptrend, however there is head and shoulder pattern formation on higher and lower timeframes. We will wait for completion of right shoulder as it retreces to the neck support level. Head and shoulder signify change in market trend and we can expect mild downward trend.

2 hourly as well as higher time frame charts are showing potential for long opportunities in near future. After the recent shoulder pattern there is reversal in market trend pattern as we enter the next phase.

Market is currently in consolidation area soon to be hitting phase 2, overall we might see mild uptrend in next few weeks.

Instrument was recently in downtrend and reached the level of consolidation. Now there are signals that market will continue in an uptrend. It broke through the support level.

Dear friends, Please see my BTC 4 hourly chart analysis. After period of retest at the support level I suspect uptrend until the end pf month. xx