NZD/USD Double Bottom To Be Activated!
Login

NZD/USD Double Bottom To Be Activated!

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Olimpiu Tuns

Updated:


NZD/USD seems ready to get out from a minor range signaling more gains ahead. The price action has developed a Double Bottom reversal pattern. So, the pair could come back higher in the short term.

The US data has come in mixed on Friday signaling that the USD could depreciate in the short term. It remains to see how the pair will react after today’s economic figures.

The ISM Services PMI, Factory Orders, and the Final Services PMI may bring high action. Some poor US data should send the pair higher.

NZD/USD H1 Chart Analysis!

It’s traded back above 0.7033 static resistance approaching the 0.7047 former high. A new higher high and a bullish closure above the R1 (0.7048) signals bullish momentum.

NZD/USD failed to stabilize under the pivot point and below the median line (ML) indicating strong buyers. The upside scenario could be invalidated by a drop below the S1 (0.7009).

Conclusion!

An upside breakout from the current range may activate a Double Bottom pattern. Stabilizing above the median line (ml) indicates strong buyers and further gains.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News