The NZD/USD currency pair is showing a Cup and Handle pattern, indicating a potential buying opportunity. The pattern consists of a rounded bottom (the cup) followed by a smaller consolidation (the handle). Traders can consider placing a buy stop order above the handle's resistance level to capture a potential bullish breakout. we will consider cup resistance to take position. This strategy aims to capitalize on the anticipated upward momentum as the price surpasses the handle's resistance, potentially leading to further price appreciation. However, it's important to consider risk management and monitor price action closely to confirm the pattern's validity before entering the trade.
Trade closed: stop reached:
SL due to News and entry point need to placed higher