Three possible scenarios, going LONG on NZDUSD

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
54 1 0
The price has finally reached a long-term trend and may bounce back. The three possible possible scenarios are:

  • Best scenario (green trend): The price bounces at the long-term trend and offers a 1:5 trade opportunity at the nearest resistance about 0.77.
  • Expected scenario (blue trend): The price bounces at the long-term trend and continues to rise steadily in a 1:2 trade opportunity.
  • Worst scenario (red trend): The price breaks the long-term trend and continues to go low.

Note that there are several supports in the case of a "Worst scenario" offering the trader a good opportunity to go LONG.
YonatanBren PRO
2 months ago
Thanks for the analysis

Whats your take on the potential H&S Formation -
It has a confluence with the Divergence shown on the weekly chart - Take a look

ill add the forth scenario to your list
Price bounces off the currently important support/resistance zone & Fib level - Reaches the the .72300 Area - and dives to realize the divergence
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