NZDUSD breaking out 170 pip target (but did the bears do enough)
The chart says it all here. Price has broken through the channel, closed above the channel and remains trading high.
However, a look to the left shows that the last time the bears were in control, we saw price stab down to the 0.6400 zone before the bulls really took over again.
So the question is, have the bulls flushed out all the sellers and can price rise?
The chart will tell us. We're waiting for a consolidation - perhaps a channel or flag-like structure on the 4-hour here, showing a pause before the next move up. Alternatively, if price were to retest the channel from above, bouncing hard off it, we're game for a long.
However, a look to the left shows that the last time the bears were in control, we saw price stab down to the 0.6400 zone before the bulls really took over again.
So the question is, have the bulls flushed out all the sellers and can price rise?
The chart will tell us. We're waiting for a consolidation - perhaps a channel or flag-like structure on the 4-hour here, showing a pause before the next move up. Alternatively, if price were to retest the channel from above, bouncing hard off it, we're game for a long.
Trade fermée: cible de profit atteinte
Far enough methinks.
Clause de non-responsabilité
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.