Inside Bar on NZD/USD

Inside Bar on NZD/USD

At the moment, the NZD/USD currency pair is consolidating. A one-direction trend is not observed. The current technical pattern signals the development of bullish sentiment. Some classical patterns of Price Action, Inside Bar (H4 timeframe), have been formed in the trading instrument, which currently indicate an increase in the NZD/USD quotes. Kiwi is testing a local resistance level of 0.64250. We recommend paying attention to this situation.

If the price fixes above the level of 0.64250, NZD/USD purchases should be considered. The immediate goal for profit taking is 0.64600. The movement is tending to 0.65000-0.65300. Confirmations and market entry points should be looked for on lower timeframes. When tracking positions, we recommend using a trailing stop.

by JustForex 2019.11.26

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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