NZDUSD Is Going Up! Buy!

Mar 15

Here is our detailed technical review for NZDUSD.

Time Frame: 10h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish

The market is approaching a significant support area 0.575.

The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 0.582 level.

P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.

Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.

Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.

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Mar 17

Note

Great beginning for a trade, let’s hope it goes further!