Hello there, again! I'm on this pair today NZDUSD to give you quick heads-up on what could happen next on Monday. As we can see, the pair has been in range for quite some time now, and it has already retested the lower trendline again, the third time, forming a small range (accumulation/indecision) before making the next move. If the price fails to break below the trendline, then expect it to break above the blue small horizontal trendline drawn. And, if this happens, that's, if the price could successfully break above the blue horizontal trendline, then there is an 85% probability of it going up and retesting the upper trendline again.
Note: This technical analysis is based on the information technically presented in the H4 and H1 timeframes: In the H4, a long-legged doji has formed, followed by a small inside bar, indicating indecision in the market, as seen in the H1 timeframe.
What Should You Do Now? Just wait for the breakout, either to the upside or downside.
My Bias: BUY. But currently, what I'm seeing in the chart technically is the accumulation, which is going to trigger the breakout to the upside next week. On the other hand, if it breaks below the lower trendline, then we should be looking for the sell continuation of the market.
WAIT. WAIT. WAIT.
Note: This technical analysis is based on the information technically presented in the H4 and H1 timeframes: In the H4, a long-legged doji has formed, followed by a small inside bar, indicating indecision in the market, as seen in the H1 timeframe.
What Should You Do Now? Just wait for the breakout, either to the upside or downside.
My Bias: BUY. But currently, what I'm seeing in the chart technically is the accumulation, which is going to trigger the breakout to the upside next week. On the other hand, if it breaks below the lower trendline, then we should be looking for the sell continuation of the market.
WAIT. WAIT. WAIT.