Vladimir RibakovOwner, Chief Trader at Home Trader Club (Former Traders Academy Club), Owner, Chief Trader at Home Trader Club (Former Traders Academy Club) · Owner, Chief Trader at Home Trader Club (Former Traders Academy Club)

NZDUSD analysis and buy trade explained - 26 June 2024

26 Jun 2024 · 1 min

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Vladimir Ribakov analyzes NZD/USD and identifies a buy setup. The daily chart shows a breakout above a descending trend line with the MACD shifting positive. On the 4-hour chart, three consecutive higher highs and lows confirm a bullish pattern, with price pulling back to Fibonacci levels where Ribakov expects a reversal upward.

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Is it time to buy New Zealand dollar? Let's take a look on the charts. The daily chart breaks upside above the falling trend line, and while doing so, it flips the price structure, making higher highs on the chart and higher highs on the MACD histogram, flipping from positive to negative to new positive. The 4-hour chart is in bullish price action, in bullish price structure— 3 higher highs Higher lows. At the moment, the market drops down, making and completing a pullback, and I expect a bullish turnaround from the Fibonacci levels. What do you think about New Zealand dollar? Let me know in the comments.