NZDUSD analysis

16.07.2021

Technical reviews

NZDUSD

The overall trend is downward (H1). On the M15 timeframe, the rollback entry point has formed. The ascending wave pattern of the M15 level is truncated and this is the wave (B) of the descending wave pattern of the H1 level. Awesome Oscillator shows a bearish divergence, and Stochastic Oscillator signals overbought conditions.

NZDUSD rate online:monitor the price movement in real time.


Trading idea:
Sell when a descending wave pattern is formed, where the wave (A) breaks through the inclined channel of the ascending truncated pattern.
Stop Loss: 0.7031 (above the range of the round important level of 0.7000).
Target level: 0.6980 (round secondary); 0.6920 (trap of a larger timeframe and round secondary).

Author: GC
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