H4 - Hidden bullish divergence, we can expect second leg down until the price reaches the magnet zone. H1 - We may expect pullbacks and only down moves. We expect the price to move lower on short term and in the mid, long term.
All analysis in the charts
Indicates underlying strengths. Good entry or re-entry. Occurs during retracements in an uptrend. Nice to see during price retests of previous lows. BUY THE DIPS". Strategy Buy Above: 1.0875, Target 1.14700.
4HR CHART: -BULLISH PENNANT. -25 PERIOD RSI HIDDEN BULL DIVERGENCE (PRICE HL , RSI LH) -MACD HIDDEN BULL DIVERGENCE (PRICE HL , MACD LH) -PRICE IS ABOVE THE 50 PERIOD MA (ORANGE LINE) IF THERES A MACD CROSSOVER AND THE PENNANT COMPLETES THEN MOON ALSO, 4/20 SOON
NZD/USD has retested 0.6500 today closing as a low test bar and just shy of trend line support. Price has also reached the 0.786 Fibonacci level closing above it. Stochastic and RSI show hidden bullish divergence. entry - above high of low test bar stop loss - below low of low test bar target - at previous resistance at ~0.6880
A retest of ~0.7070 and a third retest of the ascending trend line shows price maintaining structure of new higher highs and higher lows. As indicated too to by oscillator hidden divergence a bullish rally may resume. entry - above high of Friday's reversal bar stop loss - below low of Friday's reversal bar target - at or above previous high