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NZD/SGD Analysis, Chart, and Trading Idea

13.04.2023

Market Review

Analytics for NZD/SGD Forex pair, based on complex analysis of modified waves, Fibonacci levels and price channels
 



Bears attempted to test the support level of 0.8233 on the H4 timeframe. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the oversold state. The reverse pattern 'Key Reversal' has formed.
 



The descending truncated structure has formed on the М15 timeframe. There is a bullish divergence on the Awesome Oscillator. The early entry point 'by the truncated C' is forming.
 



Trading idea:

Buy at the formation of the ascending wave structure, when the (А) wave breaches the sloping channel of the descending wave structure

Stop-loss: 0.8233 (under the local minimum of the descending structure)

Target price levels: 0.8267, 0.8300

Author: GC
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