NZDUSD comeback to channel line
The price has reached the transshipment target of my previous forecast.
Despite a small breakdown, the price came to the resistance line 0.712.
The line is strong, has existed since 2015.
The larger TF shows that the price has previously risen above the line by several bars.
There is no reason to expect a major breakdown.
Now, after the price touched the resistance, rose above it and came back, I expect a fall.
In my opinion, the price will return to the ascending channel (growing since June).
And from the 0.712 line the price will fall to the support line (the upper channel line).
The target is 0.700.
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Share your opinion in the comments and support the idea with likes.
Thank you for your support!
Despite a small breakdown, the price came to the resistance line 0.712.
The line is strong, has existed since 2015.
The larger TF shows that the price has previously risen above the line by several bars.
There is no reason to expect a major breakdown.
Now, after the price touched the resistance, rose above it and came back, I expect a fall.
In my opinion, the price will return to the ascending channel (growing since June).
And from the 0.712 line the price will fall to the support line (the upper channel line).
The target is 0.700.
-------------------------
Share your opinion in the comments and support the idea with likes.
Thank you for your support!
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