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NZDUSD H4(4 Hours) Chart Analysis – Resistance Breakout, Higher Highs
On the H4 chart, the price which was moving lower broke below a strong support zone formed based on the volume profile zones of the KTLI indicator and after the breakout this strong support zone was acting as a strong resistance zone. Currently the price which is moving higher has broken above this zone and is holding above it, we may consider this as evidence of bullish pressure. Also, the price which is moving higher has broken above the last high and has created higher highs based on the MACD indicator which is a sign of gaining momentum towards the bullish side. We may now move down to lower timeframe and see if we can find evidences supporting this short term bullish view.
NZDUSD H1(1 Hour) Chart Analysis – Strong Bullish Momentum, Three Key Support Zones
On the H1 chart, we have a strong bullish momentum and also currently it looks like a correction is happening. So everything looks good for the bulls here as well. In addition to this, we have three key support zones that has formed based on the volume profile zones of the KTLI indicator and the Triple B Pro pivot levels. Until these three key support zones shown in the image below (marked in green) holds my short term view remains bullish here and I expect the price to move higher further after retraces.
Technical Analysis & Forecast Summary
NZDUSD H4(4 Hours) Chart Analysis
- Resistance Breakout, Higher Highs
NZDUSD H1(1 Hour) Chart Analysis
- Strong Bullish Momentum, Three Key Support Zones
Trading Tips
It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this short term buy setup then you can use any setup and strategy that you have in your arsenal to look for bullish moves and join this buy trade.
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Arvinth Akash
Home Trader Club Team
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