Support - S1 : 0.74896 | S2 : 0.74370 | S3 :
0.73683
Resistance - R1 : 0.76109 | R2 :
0.76796 | R3 : 0.77322
Main Trend -
Bearish
Intraday Trend -
Bearish
Observing the charts of forex technical analysis for the exchange rate NZDUSD, it is very easy to
detect that the price moves below the EMA (50) and EMA (200). The cross between
the EMA (50) and EMA (200) is in upward direction. Also, price is at the upper
channel of a downward Andrews Pitchfork and finds support over the median line.
On the hourly chart the technical view is exactly the same, except the cross
between EMA (50) and EMA (200) which is downward. You should note the upwards
break from RSI in the EMA(9).
Considering all the details from the charts of forex technical analysis we can detect all critical levels and trading targets
for H1 and H4 timeframes:
4H Chart
The area 0.7605 – 0.7580 is a neutral zone.
Bullish scenario : If the price move upwards and close above
the neutral zone, then the upward trading targets will be : 0.7640 , 0.7680 ,
0,7725.
Bearish scenario : If price, remain below the neutral zone,
then the downward trading targets will be: 0.7475 , 0.7440 , 0.7420 ,
0.7390.
1H Chart
The area 0.7549 – 0.7537 is a neutral zone.
Bullish scenario : If the price move upwards and close above
the neutral zone, then the upward trading targets will be : 0.7573 , 0.7590 ,
07610.
Bearish scenario : If price move downwards and close below
the neutral zone, then the downward trading targets will be: 0.7485 , 0.7460 ,
0.7435 , 0.7400.
Using the above elements of forex technical analysis, everyone can plan his own personal forex trading strategy . We note the need to use stop loss levels.
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