NZD/USD: triangle forming

NZD/USD: triangle forming

2020-10-14 • Updated

On the H1 chart of NZD/USD, you will see the resistance of 0.6670 that has never been breached since October 9. It will, eventually, and the question is when.

The higher lows from the last two days suggest that the bullish pressure is increasing from the downside and may finally erupt in the coming days. Take October 12 as the beginning of the triangle’s side and drag it forward until it converges with the upper side at 0.6670 like in the chart. The convergence point appears to be on October 15 – meaning, on Thursday. That suggests that before breaking the resistance, the pair will make another wave down to make another higher low above the 50-MA, and after that will aim to break the roof at 0.6670.

NZDUSDH1.png

By the way, here is a video on trading triangles - enjoy!

Easy, right?

                                                                                                   LOG IN

Similar

Trade Ideas on September  6-10
Trade Ideas on September 6-10

Bitcoin At the end of the past week, Bitcoin broke through the big resistance level of $50 400 and reached $51 500 after the worse-than-expected US labor data…

Latest news

What To Trade On May 23 - 27?
What To Trade On May 23 - 27?

Last week blew traders' minds!  The US dollar dropped for the first time in seven weeks after Jerome Powell's speech on Tuesday…

Can a recession be avoided? 
Can a recession be avoided? 

The pandemic continues hurting economic activity in China, the war in Ukraine is hitting the entire European economy, and the Fed's efforts to control inflation threaten to trigger a recession. 

Deposit with your local payment systems

Be on top of your game

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera