• Vasily Trader

NZDUSD: Structure Analysis & Complete Indecision (Indecision)

NZDUSD is trading in a sideways.

Since April the market is trading within a wide horizontal trading range.

0.711 - 0.7145 is its support

0.729 - 0.7315 is its resistance

For range trading, consider its boundaries.

Buying from support and selling from resistance, you can catch nice moves.

To catch the next swing move,

wait for a breakout of the range's support/resistance:

In case of a support breakout (daily candle close below),

the price will most likely drop lower.

Goal will be 0.696 (the next daily support)

In case of a bullish breakout (daily candle close above),

the price will keep growing.

Your goal will be 0.744 (the next daily resistance)