Forex

NZD/USD Bullish Pennant Above Suggests Upward Continuation

November 6, 2018

2 min read

tarantula fx

Head of Trading

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NZD/USD Bullish Pennant Above Suggests Upward Continuation

Hi traders,

The NZD/USD has formed a bullish pennant above 6/8 Murrey Math and M H4 Camarilla Pivot. We might see uptrend continuation.

Bounce from 0.6640-50 zone is constricted by the upper pennant trend line. For uptrend continuation bullish impulse should break 0.6690. A close or a strong marubozu candle above the level will target 0.6715 and 0.6744 where the biggest confluence is. However, a drop below 0.6620 will put the pair in neutral mode targeting 0.6590

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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