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NZD/USD Analysis, Chart, and Trading Idea

21.04.2023

Market Review

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



The downside wave structures are truncated. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the oversold state.
 



Trading idea:

Sell at the formation of the ascending wave structure, when the (A) wave breaches the sloping channel of the descending wave structure

Stop-Loss: under the local minimum of the descending structure 0.6149

Target price levels: 0.6250, 0.6314

Author: GC
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