NZDUSD - LongTerm + MidTerm forecast, Technical Analysis

Monthly TimeFrame:

Weekly TimeFrame:


LongTerm forecast (Monthly Timeframe):

Price is in a Downtrend, But 0.5470 is a Major support.

Considering that this support line has not been broken since 2009, there is a high probability that the price will be rejected and a long-term upward trend will be formed.
But this process will also take years.

MidTerm forecast (Daily Timeframe):

0.57992 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach MidTerm targets.

• Beginning of entry zone (0.5540)
  
• Ending of entry zone (0.5470)
  

Take Profits:

1. 0.5664
   
2. 0.5750
   
3. 0.5799
   
4. 0.5863
   
5. 0.5916
   
6. 0.6036
   
7. 0.6118
   
8. 0.6259
   
9. 0.6368
   

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