NZDUSD breaking out 170 pip target (but did the bears do enough)
The chart says it all here. Price has broken through the channel, closed above the channel and remains trading high.
However, a look to the left shows that the last time the bears were in control, we saw price stab down to the 0.6400 zone before the bulls really took over again.
So the question is, have the bulls flushed out all the sellers and can price rise?
The chart will tell us. We're waiting for a consolidation - perhaps a channel or flag-like structure on the 4-hour here, showing a pause before the next move up. Alternatively, if price were to retest the channel from above, bouncing hard off it, we're game for a long.
However, a look to the left shows that the last time the bears were in control, we saw price stab down to the 0.6400 zone before the bulls really took over again.
So the question is, have the bulls flushed out all the sellers and can price rise?
The chart will tell us. We're waiting for a consolidation - perhaps a channel or flag-like structure on the 4-hour here, showing a pause before the next move up. Alternatively, if price were to retest the channel from above, bouncing hard off it, we're game for a long.
Trade chiuso: obiettivo raggiunto
Far enough methinks.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.