NZDUSD Targets 0.6180 Relative Equal Highs

Service for copy trading. Our Algo automatically opens and closes trades.

The L2T Algo provides highly profitable signals with minimal risk.

24/7 cryptocurrency trading. While you sleep, we trade.

10 minute setup with substantial advantages. The manual is provided with the purchase.

79% Success rate. Our outcomes will excite you.

Up to 70 trades per month. There are more than 5 pairs available.

Monthly subscriptions begin at £58.

L2T Algo

TELEGRAM

RESULTS

Market Analysis – May 21

The NZDUSD pair is displaying a clear bullish trend following the break of the resistance trendline on the daily chart. The market is now poised to target the rich liquidity regions on the sell-side, particularly around the relative equal highs.

NZDUSD Key Levels

• Demand Levels: 0.6000, 0.5860, 0.5770
• Supply Levels: 0.6180, 0.6290, 0.6360

NZDUSD Long-term Trend: Bullish

The significant price decline below the major low of 0.6120 in January set the stage for a downtrend in NZDUSD, with the formation of lower highs reinforcing the bearish market structure. This downtrend was marked by a series of lower highs aligned along a bearish trendline, prompting sell-offs at each test of the trendline.

However, as the price approached the demand zone at 0.5860, the daily candles began forming higher lows, indicating a shift in momentum. Notably, while the price made a lower low, the RSI (Relative Strength Index) formed a higher low, signaling underlying strength. This divergence, coupled with a bounce off the 0.5860 demand zone, suggested a failed low and a potential reversal. The swing low at the beginning of May was higher than the previous low, confirming the bullish shift. The RSI now shows a strong upward trend, which aligns with bullish signals from the Smoothed Heikin Ashi Candles.

NZDUSD Short-term Trend: Bullish

In the short term, a double top pattern is evident at the supply zone of 0.6180. The relative equal highs at this level are attractive targets for forex traders. While a pullback to the 0.6000 demand zone, where a bullish order block is located, is possible, the overall expectation is for the price to advance towards the 0.6180 supply zone shortly.

Do you want to take your trading to the next level? Join the best platform for that here

• Broker
• Benefits
• Min Deposit
• Score
• Visit Broker

• Award-winning Cryptocurrency trading platform
• $100 minimum deposit,
• FCA & Cysec regulated

$100 Min Deposit

9.8

Trade Now

• 20% welcome bonus of upto $10,000
• Minimum deposit $100
• Verify your account before the bonus is credited

$100 Min Deposit

9

Trade Now

• Over 100 different financial products
• Invest from as little as $10
• Same-day withdrawal is possible

$250 Min Deposit

9.8

Trade Now

• The Lowest Trading Costs
• 50% Welcome Bonus
• Award-winning 24 Hour Support

$50 Min Deposit

9

Trade Now

• Fund Moneta Markets account with a minimum of $250
• Opt in using the form to claim your 50% deposit bonus

$250 Min Deposit

9

Trade Now