• Nov 27, 2024
  • Trade ideas

NZDUSD: Falling Wedge

NZDUSD, H4

NZDUSDH4.png

NZDUSD breaches above the falling wedge pattern and faces the crucial 0.5910 resistance level.
The MACD histogram crosses the 0-line upwards, however, the 100-MA will bring another layers of resistance for the asset, which gives mixed opportunities.

  • If the price breaks above the 100-MA, it will trigger a rise to 0.6020 resistance.
  • However, bouncing from the 0.5910 resistance zone will bring the asset back to 0.5820.
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Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

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Author: Timur Yurdagyul