NZD/USD Weekly Analysis
"On Monthly:
It made a Hammer formation at the Psychological Support 0.58000 which is Bullish candle formation.
It potentially can go up to 0.6000 which is another Psychological number / Rersistant ultimately.
However, as all three EMA and other USD pairs show, the primary move is Bearish.
-- On Weekly:
It seems it has made a Bi-Lateral flag after a major Bearish move since 2021.
last week made a Bullish Engulfing Candle moving up to 0.6000.
Although, temporary it can be Bullish, but Primary move is Bearish as all three EMAs are Bearish.
--On Daily:
this time frame doesn't give us much more data than what we have seen on Monthly and Weekly. It just proves that Bull are in charge temporary in a primary Bearish move.
-- On Hourly:
Lower time frame confirms the same thing which is Bullish move up to 0.6000 as it broke the Bearish trend and runing above all three EMAs, 200, 50,and 20.
One opportunity would be price comes down and touch and get rejected at 0.59000 to continue Bullish up to 0.6000."
It made a Hammer formation at the Psychological Support 0.58000 which is Bullish candle formation.
It potentially can go up to 0.6000 which is another Psychological number / Rersistant ultimately.
However, as all three EMA and other USD pairs show, the primary move is Bearish.
-- On Weekly:
It seems it has made a Bi-Lateral flag after a major Bearish move since 2021.
last week made a Bullish Engulfing Candle moving up to 0.6000.
Although, temporary it can be Bullish, but Primary move is Bearish as all three EMAs are Bearish.
--On Daily:
this time frame doesn't give us much more data than what we have seen on Monthly and Weekly. It just proves that Bull are in charge temporary in a primary Bearish move.
-- On Hourly:
Lower time frame confirms the same thing which is Bullish move up to 0.6000 as it broke the Bearish trend and runing above all three EMAs, 200, 50,and 20.
One opportunity would be price comes down and touch and get rejected at 0.59000 to continue Bullish up to 0.6000."
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