NZDUSD has been a buyers market for the last few months with price holding above the mean value and making new highs as it steps up into the chart. RIght now the market is interacting with a stubborn resistance level which has managed to contain price for the last few weeks. While the mean value still maintains the buoyancy of price and holds as dynamic support, a situation has developed where the momentum of the mean value an the market has jammed price between the resistance level and the mean value. Both are containing price but eventually something will give. Generally it’s the momentum of the mean value that will be the dominating force in the market, so in this case we’re anticipating breakouts to the high side. The last two daily candles have also showed rejection of the lower prices, reinforcing our bias for an upside breakout.If price breaks past the high’s of the rejection candles, it could trigger the breakout to the high side. Dale Woods Dale Woods The Forex Guy is an educational Forex trading blog run by Dale Woods who has been a passionate retail Forex trader for over 6 years. Dale trades the Forex market exclusively with price action based methodologies, believing price action trading to be one of the powerful approaches used the market today, and really is the core foundation of any good trading system. Dale also strongly believes in keeping charts clean and keeping things simple, logical and uncomplicated. By making trading decisions straight off the raw price action data, you can ‘bypass’ unnecessary variables like exotic indicators, trading robots or magical pivot levels. Dale enforces the idea that there is hardly any edge trading news and economic data releases and much prefers to make trading decisions straight from the candlestick themselves. ‘The Forex Guy’ is dedicated to providing knowledge to serious and passionate traders who want to learn the art of price action trading, positive geared money management and how to psychologically condition themselves to become a professional trader. View All Post By Dale Woods Forex News Today: Daily Trading News share Read Next EUR/USD April 15 – Dips below 1.38 ahead of key Yohay Elam 8 years NZDUSD has been a buyers market for the last few months with price holding above the mean value and making new highs as it steps up into the chart. RIght now the market is interacting with a stubborn resistance level which has managed to contain price for the last few weeks. While the mean value still maintains the buoyancy of price and holds as dynamic support, a situation has developed where the momentum of the mean value an the market has jammed price between the resistance level and the mean value. Both are containing price but eventually something will give.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
