NZDUSD Descending Channel
Observation
- Price Action bounce on shortage zone @ 0.68941
Analysis
- Price Action returns to descending channel but Market Sentiment @ 0.70481 will push price down again to shortage zone
- Price Action bounce on shortage zone @ 0.68941
Analysis
- Price Action returns to descending channel but Market Sentiment @ 0.70481 will push price down again to shortage zone
Comment:
Waiting for the price to respect the surplus zone
Comment:
High chance for price to bounce at 0.69335 as price enters support zone. This week might be consolidation stage.
Comment:
Price respected the support level (blue box) and plays inside the downward channel.
Price broke downward channel with an aggressive move upward by the bulls.
New support level is created at 0.70121
There is still a chance for price to reconcile and go back again in downtrend but need more confirmation about this.
Price broke downward channel with an aggressive move upward by the bulls.
New support level is created at 0.70121
There is still a chance for price to reconcile and go back again in downtrend but need more confirmation about this.