NZD/USD Trend Continuation: Channel Formation, Bull Flag on 4H
NZD/USD has been bullish as of recently so we follow trend continuation.
We are currently in a corrective state, but approaching structure levels.
We see a trend channel that price is following, so if we continue this channel we should expect movement to the upside since we just finished a corrective wave.
We can also see a large bull flag formation. If this is valid, and we see a break of the upper resistance of the channel, we should also expect further bullish movement.
We see two bullish doji candles (circled in blue) which should be followed by a bullish move
RSI is not oversold or overbought = room for movement in either direction
We are currently in a corrective state, but approaching structure levels.
We see a trend channel that price is following, so if we continue this channel we should expect movement to the upside since we just finished a corrective wave.
We can also see a large bull flag formation. If this is valid, and we see a break of the upper resistance of the channel, we should also expect further bullish movement.
We see two bullish doji candles (circled in blue) which should be followed by a bullish move
RSI is not oversold or overbought = room for movement in either direction
Trade closed: target reached
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.