Good morning traders, today we bring you our analysis on NZD/USD, since we consider that it is in an interesting movement where we can take advantage.
🔸As we can see, the price generated a break in the bullish channel, and for some days we saw a bearish movement.
🔸Although the channel had been broken, it was not a trend change, as the sequence of higher highs and higher lows was still valid, which kept the uptrend active.
🔸To consider a trend change, we need a break of the Support Zone.
🔸In this correction that the price made, we can draw a bullish flag.
🔸It was broken to the upside, and now the price is in bullish momentum.
🔸We consider that the first target is the previous high, and in case it is broken, there is a great upside potential.
🔸As we can see, the price generated a break in the bullish channel, and for some days we saw a bearish movement.
🔸Although the channel had been broken, it was not a trend change, as the sequence of higher highs and higher lows was still valid, which kept the uptrend active.
🔸To consider a trend change, we need a break of the Support Zone.
🔸In this correction that the price made, we can draw a bullish flag.
🔸It was broken to the upside, and now the price is in bullish momentum.
🔸We consider that the first target is the previous high, and in case it is broken, there is a great upside potential.