FXtrades-gp

NZDUSD: Is the price BREAKING through it SYMMETRICAL TRIANGLE?

Short
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Hi traders and welcome to my channel, if you enjoy my FREE Technical Analysis📈 and Trading Tips📉, support the idea hitting the LIKE👍 button and don't forget to SUBSCRIBE✔️ my channel, you won't miss anything!

🟢Forex Pair:
NZD/USD

Technical Analysis:
Since the end of December 2020, the price has been moving creating an interesting symmetrical triangle pattern , perfectly bouncing few times on its dynamic S/R trendline.
On the 18th and 28th of January 2021, the price reached and got a strong rejection on the support area at about 0.71000.
It's currently moving inside the pattern and the next daily session will be essential to understand the next movement.

🔴Conclusion:
In the daily time frame, we can see a strong bullish impulse started in November 2020, and I'm confident to see an upcoming clear trend correction.
The price is definitely giving us few signs of weakness and I'll be waiting a proper breakout of its chart pattern before planning my short position on this trade.

Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!

⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️

Trade Safe and Responsibly,
Gianni

Comments

Thanks for sharing
+2 Reply
FXtrades-gp MMBTtrader
@MMBTtrader you’re welcome man! 😁
Reply
very possible move, the monthly it's way overextended let's see if we break the support :)
+2 Reply
FXtrades-gp transparent-fx
@transparent-fx, Hi and thanks for your feedback, so glad to receive your comment over here, I was also analysing the weekly perspective and it seems is consolidating right now, so let's wait and see the following session! :)
Reply
Nice content! thanks for sharing! 🦐
+1 Reply
FXtrades-gp plancton0618
@plancton0618, you're welcome! thanks so much :)
Reply
Looking great thanks for sharing
+1 Reply
FXtrades-gp Babenski
@Babenski you’re welcome babenski ! And thanks for ur feedback 👌
Reply
looks good to me. thumbsup. great overview
+1 Reply
@abel11 many thanks Abel, hopefully you appreciate that !
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out