NZD/USD has broken above the 200 EMA on the 4H chart and is finding support on top of it for the first time since the month of April.
This is a good sign of the beginning of a long term reversal.
As long as that support holds, we can expect NZD/USD to continue upwards and eventually hit our TP. Then do a pullback and hit either the 50 EMA or the 200 EMA to continue further up.
Give it some more time to confirm it's support and strength to move up then enter.
Trade safe.
This is a good sign of the beginning of a long term reversal.
As long as that support holds, we can expect NZD/USD to continue upwards and eventually hit our TP. Then do a pullback and hit either the 50 EMA or the 200 EMA to continue further up.
Give it some more time to confirm it's support and strength to move up then enter.
Trade safe.
Trade closed: stop reached:
Trading canceled until further confirmation, the 50 EMA on the 4H was not able to hold as support. No trades opened.