NZD/USD Forex Analysis and Forex Signal - SlickTrade Academy - Nadex and Forex

The NZD/USD reached a previous support on the WK timeframe. Price has not reached this low since August 2015. More than likely, we will see a reversal in trend to the upside, with minimal risk associated.

What Others Are Predicting

NZDUSD is at bottom time to watch price action for longer term reversal. Watch for sharp buying and keep adding on corrections.

nzdusd is standing on a 6 years low on a weekly. recent false breakout of a previous structure low on a daily leaves us clues that bearish pressure is exhausted. currently, the market is started to contract within a symmetrical triangle formation – a clear indication of high indecision. though according to a common rule, we trade such triangle, waiting for a breakout and the side of breakout does not matter, I will trade only in case of a bullish breakout following my observations of weekly and daily charts . target levels will be 0.6345 and 0.6395 stop goes below the last higher low of a triangle.

My Thoughts!

We are currently at W1 Support C Level. Please note that this is the W1 timeframe, not the usual D1. Each bar is 1 week in duration. Trade using proper risk management. Going long with minimal risk and targets at previous key resistance levels.

Our long target range is 0.64135 – 0.65578

Cheers to another successful week!