Support - S1 : 0.74426 | S2 : 0.73912 | S3 :
0.73623
Resistance - R1 : 0.75229 | R2 : 0.75518 | R3 :
0.76032
Main Trend - Bearish
Intraday Trend - Bearish
Studying the charts of forex technical analysis for the exchange rate NZDUSD, we may notice that in
the four hour chart, the price moves within the upper channel of a downward
Andrews Pitchfork. Also located below the EMA (50) and EMA (200). Between the
EMA (50) and EMA (200) exists downward cross. On the hourly chart the cross
among the EMA (50) and EMA (200) is downward. The price is located in the area
between the EMA (50) and EMA (200). In general, the technical picture of the
hourly charts is identical to that of the four-hour chart.
Considering all the details from the charts of forex technical analysis we can detect all critical levels and trading targets
for H1 and H4 timeframes:
4H Chart
The area 0.74778 – 0.74516 is a neutral zone.
Bullish scenario : If the price move upwards and close above
the neutral zone, then the upward trading targets will be : 0.7509 , 0.7536 , 0.7572 , 0.7600.
Bearish scenario : If price move downwards and close below
the neutral zone, then the downward trading targets will be : 0.7386 , 0.7348 , 0.7300.
1H Chart
The area 0.7480 – 0.7465 is a neutral zone.
Bullish scenario : If the price move upwards and close above
the neutral zone, then the upward trading targets will be : 0.7500 , 0.7536 , 0.7550 , 0.7572.
Bearish scenario : If price move downwards and close below
the neutral zone, then the downward trading targets will be : 0.7430 , 0.7400 , 0.7385 , 0.7348.
Using the above elements of forex technical analysis, everyone can plan his own personal forex trading strategy . We note the need to use stop loss levels.
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