A trading opportunity to buy in NZDUSD

15 de jan. de 2019

Midterm forecast:
There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 0.6430 would begin in Midterm.

Technical analysis:
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 0.6580 on 01/03/2019, so more gains to resistance(s) 0.6860, 0.6970, 0.7025 and more heights is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 57.

Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.6695 to 0.6605). if so, traders can set orders based on Price Action and expect to reach short-term targets.

Beginning of entry zone (0.6695)
Ending of entry zone (0.6605)

Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing", "Hammer" or "Valley" in other words,
NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone.
To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:

Take Profits:
TP1= @ 0.6775
TP2= @ 0.6860
TP3= @ 0.6970
TP4= @ 0.7025
TP5= @ 0.7175
TP6= @ 0.7435
TP7= @ 0.7560
TP8= Free