NZDUSD - trend reversal incoming - buy on 4H
market price is in correction movement after confirming a double top. I expect down movement to 0.6355 area which is first stronger support area.
Supports are:
1. 38,2 fibonacci retracement support area ( if market price turns at this area we can expect again fast up movement because this is indicator for a strong trend movement)
2. RSI baselines is near up trend line which is support and entry for buyers
3. MACD baselines are near 0 line which is area for trend reversal. Expect fast up movement if the baselines cross bullish and doesn´t fall under the 0 line.
Don´t forget to like and share if you like the idea and feel free to leave a comment with your idea or questions.
Enjoy your weekend guys ;)
Supports are:
1. 38,2 fibonacci retracement support area ( if market price turns at this area we can expect again fast up movement because this is indicator for a strong trend movement)
2. RSI baselines is near up trend line which is support and entry for buyers
3. MACD baselines are near 0 line which is area for trend reversal. Expect fast up movement if the baselines cross bullish and doesn´t fall under the 0 line.
Don´t forget to like and share if you like the idea and feel free to leave a comment with your idea or questions.
Enjoy your weekend guys ;)
Order cancelled:
market doesn't closed above the trend line and confirmed bearish trend continuation
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
