NZDUSD, Trading In Triangle, This Price-Action Can Show Setup!

Hello Traders Investors And Community,

In this analysis, we are looking at NZDUSD 4-hour timeframe perspective, the recent events, the current formational structure, what we can expect the next time and how to possibly handle upcoming situations in the right manner. NZDUSD has formed quite an interesting price-action the last times and can show up with some decent setups when the proper scenarios show up, therefore I detected the important levels and possible outcomes we should consider with NZDUSD at the moment.

Looking at my chart you can watch the pair building this massive triangle-formation with the upper and lower boundary marked in blue, besides that the pair is forming a wave-count in which it completes the wave D now and sets up to form the final wave E which can finish the whole formation, what is also important here is that the pair bounced from the 60-EMA in red and confirmed it as support, therefore these levels ending in a coherent support cluster marked in green in my chart.

The next times will show how the triangle is coming to an end here and there is a high possibility given that the triangle confirms as expected, there is only a marginal possibility given that it moves to the downside, when the bullish scenario sets in it can be traded either aggressively with an immediate entry in the triangle or conservative with entry after the breakout, although the aggressive approach is also possible here the conservative one should be preferred, traders can decide according to own risk-preferences.

In this manner, thank you for watching, support for more market insight, good day to you, and all the best!
“There are many roads to prosperity but one must be taken.”

Information provided is only educational and should not be used to take action in the markets.