NZDUSD décoded : prices are in a substitution channel
In short :
The chart shows the replacement of a bearish channel by a bullish channel
This is a trend reversal pattern
And right now prices are on the lower bound of the bullish channel
In this area there is a possibility of a bullish rebound to follow
A confirmation would send prices back to break their last high
The chart shows the replacement of a bearish channel by a bullish channel
This is a trend reversal pattern
And right now prices are on the lower bound of the bullish channel
In this area there is a possibility of a bullish rebound to follow
A confirmation would send prices back to break their last high