NZDUSD on the up and up until 4h supply realignment.

New Zealand Dollar/U.S. DollarFXCM

Description

⋅ Aug 18, 2018 5:18 PM

Price Altitude: Middle
Daily Trend: Down
4H Trend: Up

Analysis: Price bounced off the 25% resistance line and is retracing upward into two 4h Supply zones to re-align with the higher timeframe down trend.

Prediction: Continue the retrace upward. Profit margin for longs is disappearing.

Price Points of Interest:
4h Supply @ 0.66646
4h Supply @ 0.66406
4h Demand @ 0.66079
4h Demand @ 0.65688

This analysis is meant to be educational, inspirational and confirming of your own analysis. Trade carefully, trade wisely by managing your risk exposure. Fortune favours the bold.