Good afternoon, Kohaku. This is an excellent analysis and provides valuable information for everyone. I'd like to share my views on the NZD/USD currency pair, as a useful reference and consideration when developing today's trading plan. As usual, I'm using trend analysis, combining the Bollinger Band and 50-day Exponential Moving Average indicators, along with momentum confirmation from the MACD P
On the daily timeframe, after successfully breaking through the support area at 0.568, NZDUSD actually demonstrated a very strong rebound. This increase was able to push the price through the middle Bollinger Band at 0.5792. Of course, with this confirmation of the breakout, the price still has a wide opportunity to continue rising to test the next supply area at 0.5812. This increase is also supported by bullish momentum from the MACD indicator, where the histogram continues to rise and consistently remains above the signal line. If this histogram breaks out and remains above the zero line, the bullish confirmation will be even stronger and potentially continue the movement towards the next resistance area around 0.595. With this clear trend direction, the buy option is certainly the most relevant choice. However, it's important to note that it's inefficient to enter when the price is already running too high, so patience is needed to wait for a more ideal correction area. Looking at the H4 timeframe, the short-term bullish picture is also becoming clearer. The Bollinger Bands are currently trending upward and beginning to widen, indicating high market volatility and a strong trend. The price is currently approaching the supply zone at 0.580, but the price is already high enough to warrant a direct buy entry. Nevertheless, the trend structure remains well-maintained, as the price remains above the middle Bollinger Band and above the 50-day Exponential Moving Average. These two dynamic levels act as filters, confirming the validity of the short-term bullish trend. Furthermore, the MACD histogram continues to rise consistently above the signal line and above the zero line. This indicates that positive momentum remains intact and there are no significant signs of weakening from the buyer's perspective. Based on the conclusions from the two time frames, both the daily and H4 time frames show consistent bullish conditions. Therefore, a buy option is the most appropriate trading plan and is relevant to the current market trend. However, since the price is already at a relatively high level, it would be wise not to force an entry at the peak. The best strategy is to wait for the price to correct to 0.571. This level is a minor resistance area that was broken out in the previous session. Therefore, if the price retests this area, it will likely transform into a new support or demand zone. This area can be used as a more ideal buy entry point, with a stop-loss placed below the strong support level of 0.566 and an initial upside target around 0.580 to 0.5812 as the nearest resistance. That concludes my view on NZDUSD today. I hope it serves as a useful additional reference. Thank you.
