Weekly Analysis - NZD/USD
"On Monthly:
It continued Bearish move towards 0.58000 Psychological number that has been tested many times in the past.
All three EMA 200, 50 and 20 (BGR) are Bearish.
-- On Weekly:
It seems it has made a Bi-Lateral flag after a major Bearish move since 2021.
It confirms the Bearish move towards the 0.5800 and Trendline.
--On Daily:
It has made a Double Top to continue Bearish move. Once it hit 0.58000, and depending on the reaction afterward, I would pick the trade.
-- On Hourly:
Hourly chart doesn't add much to the picture. There is less than 30 Pips to 0.58000. you may notice Head & Multi-Shoulders formation to support Bearish move along with all three EMAs 20, 50 and 200 (RGB)."
It continued Bearish move towards 0.58000 Psychological number that has been tested many times in the past.
All three EMA 200, 50 and 20 (BGR) are Bearish.
-- On Weekly:
It seems it has made a Bi-Lateral flag after a major Bearish move since 2021.
It confirms the Bearish move towards the 0.5800 and Trendline.
--On Daily:
It has made a Double Top to continue Bearish move. Once it hit 0.58000, and depending on the reaction afterward, I would pick the trade.
-- On Hourly:
Hourly chart doesn't add much to the picture. There is less than 30 Pips to 0.58000. you may notice Head & Multi-Shoulders formation to support Bearish move along with all three EMAs 20, 50 and 200 (RGB)."
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