NZDUSD: Buy Signals and How to Trade

The market looks interesting for buying. The daily chart tells us about a possible reversal from SMA100. The 1H timeframe gives us trend reversal signals based on a double bullish divergence and a triple bottom.

It is possible to think about buying based on a reversal signal from 0.64500 support or a breakout above the local swing highs. Stop orders must be placed below the support. Profit targets can be at SMA100 and SMA200.

One buy signal is risky, but it gives a good risk/reward ratio. Another buy signal is more reliable, but we will have less space for the upward movement. If the price breaks below 0.64500, be ready to see a downward movement to 0.64000 round number.



Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.