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asferruzzi
Sep 28, 2017 12:12 AM

NZDUSD double bottom reversal Long

New Zealand Dollar/U.S. DollarFXCM

Description

Daily time frame shows price within previous support zone.
Hourly time frame shows price rejected support twice and potentially third.
RSI indicator showing momentum to the upside.
Based on the double bottom pattern, support area and RSI I am biased to the upside.

Comment

Triple bottom now formed.
Sellers not able to break down through the support area.
If price breaks above 0.7240 consider opening long position for the reversal to the upside.
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