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AidanMDang
Nov 25, 2018 3:50 AM

NZD/USD Trend Continuation: Channel Formation, Bull Flag on 4H Long

NZD/USDOANDA

Description

NZD/USD has been bullish as of recently so we follow trend continuation.

We are currently in a corrective state, but approaching structure levels.
We see a trend channel that price is following, so if we continue this channel we should expect movement to the upside since we just finished a corrective wave.
We can also see a large bull flag formation. If this is valid, and we see a break of the upper resistance of the channel, we should also expect further bullish movement.
We see two bullish doji candles (circled in blue) which should be followed by a bullish move
RSI is not oversold or overbought = room for movement in either direction

Trade closed: target reached

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