Flag on NZD/USD

Flag on NZD/USD

The NZD/USD currency pair has moved up after a long fall. Kiwi has updated local highs. The current technical pattern indicates a further recovery of NZD/USD quotes. The confirming signal is the classical figure of Flag (H1 timeframe). At the moment, the trading instrument is consolidating near the "mirror" resistance level of 0.6450. We recommend paying attention to this situation.

If the price fixes above the level of 0.6450, you need to look for entry points to the market to open long positions. The nearest goal for profit-taking is 0.6485-0.6500. The movement is tending to 0.6530-0.6550. When tracking positions, we recommend using a trailing stop.

by JustForex 2020.02.17

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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