NZDUSD Long Wick Mid Term Bottom
Structure: Range (0.60 - 0.6755)
Moving Average: Downtrend
Trendline: Testing Uptrend Line Resistance
Pattern: Huge Size Doji
Trigger: Extreme Long Wick, cutting SL orders to 0.6
Support: 0.6240, 0.62, 0.6090
Resistance: 0.6455, 0.6755
Yesterday's Asian Session, Prices drove down to 0.6, breaking 2 Support area. However, huge rejection came from the bottom immediately and drove up price to close near open. With this huge long wick, it's confident to say NZDUSD marks bottom both short and mid term.
Wait price to consolidate and long, entry area: 0.62 - 0.6250
SL: 0.5990
1st Target: 0.6455
2nd Target: 0.6755
Moving Average: Downtrend
Trendline: Testing Uptrend Line Resistance
Pattern: Huge Size Doji
Trigger: Extreme Long Wick, cutting SL orders to 0.6
Support: 0.6240, 0.62, 0.6090
Resistance: 0.6455, 0.6755
Yesterday's Asian Session, Prices drove down to 0.6, breaking 2 Support area. However, huge rejection came from the bottom immediately and drove up price to close near open. With this huge long wick, it's confident to say NZDUSD marks bottom both short and mid term.
Wait price to consolidate and long, entry area: 0.62 - 0.6250
SL: 0.5990
1st Target: 0.6455
2nd Target: 0.6755