NZDUSD Weakens at Premium Zone

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 – December 17

NZDUSD weakens at the premium zone as the price approaches the diagonal resistance. The NZDUSD is highly characterized by its fluctuation since the beginning of the year. The fluctuation indicates the bulls’ and bears’ interest in taking control of the market at every support and resistance. However, the bulls have been winning as the price surges with high momentum into the premium zone.

NZDUSD Key Levels

Demand Zones: $0.60560, $0.57730
Supply Zones: $0.64100, $0.65400

NZDUSD Long-Term Trend: Bullish

The trading range of the market before the third quarter of the year began was between $0.60550 and $0.64100. The price fluctuated relatively within the wide range as it bounced off the minor and major levels.

In June 2023, The market bounced off the demand zone at $0.60560. This led to a notable rally to the upside, with prices moving fractally up beyond previous lows. The bulls eventually led the market to $0.64100 before exiting, thereby leading to a reversal after the buy-side liquidity grab.
 
Owing to the exit of the bulls for the time being, NZDUSD crashed, breaking major support levels aggressively. The selling momentum depleted as the price got into the discount zone. As a result of the oversold state of the market, according to the Stochastic Oscillator, buyers returned to the market.

This led the market into a new trend as the MA Cross flipped bullish, signaling a ‘buy’ in favor of the bulls. NZDUSD is currently in the premium zone. Owing to the overbought indication of the Stochastic Oscillator, a decline into the $0.60560 demand zone is highly probable. 

NZDUSD Short-Term Trend: Bullish

The pair is currently in a bullish trend as it rallies alongside a rising trendline on the four-hour chart. A bullish order block formed at the $0.60560 demand zone as the price rallied to the premium zone. An invalidation of the rising trendline due to the overbought state of the market is impending. This is expected to lead the price into the bullish order block at the $0.60560 demand zone.

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