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🟢Forex Pair:
NZD/USD
⚪Technical Analysis:
Since the end of December 2020, the price has been following a strong uptrend until the main resistance zone at about 0.73100.
Not able to break it, the price started collapsing down and it is currently creating an interesting symmetrical triangle pattern.
Today, the price broke through the main trendline and the next price action will be essential to understand the next market movement.
🔴Conclusion:
In the daily perspective, the price reached a strong weekly resistance zone that rejected the price many times in the past and now, I'm confident to see a trend correction.
The price has just broken its dynamic trendline and I'll be waiting for a clear sign of weakness before planning my short position on this trade.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
🟢Forex Pair:
NZD/USD
⚪Technical Analysis:
Since the end of December 2020, the price has been following a strong uptrend until the main resistance zone at about 0.73100.
Not able to break it, the price started collapsing down and it is currently creating an interesting symmetrical triangle pattern.
Today, the price broke through the main trendline and the next price action will be essential to understand the next market movement.
🔴Conclusion:
In the daily perspective, the price reached a strong weekly resistance zone that rejected the price many times in the past and now, I'm confident to see a trend correction.
The price has just broken its dynamic trendline and I'll be waiting for a clear sign of weakness before planning my short position on this trade.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
