It's a daily chart of NZD/USD. From the 19th of March 2020, it started to rise and still moving upward. For an easy understanding of the trend, I have applied the DMI and SuperTrend.
Let's take a look at indicators,
DI+ is above DI- that means the trend will continue to move upside. ADX is greater than 25, which also indicates the upside movement.
NZDUSD is trading in channel pattern. it may continue its trend channel pattern. If it breaks the channel pattern on either side, we might see small profit booking as pair already given a price rally. So, we might see consolidation in price at resistance or support zone level.
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NZDUSD is trading in channel pattern from its bottom, also it is taking trend line support in the lower part of the channel. We might see a continuation of the trend in the upside as long as it is taking the support of the trend line and channel support line.
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Hello traders, we hope all are doing good. We have brought another analysis on NZDUSD for you all. As we can see that the pair has already broken out of its ascending triangle and has retested as well. It has also respected its trend-line support and has made a new higher high while no breaking its previous lower lows. So being said all we feel is that the pair...