After months of trading sideways, NZD/USD has finally broken out and is on an upward trajectory. This breakout signals potential gains and a shift to a bullish trend.
NZD/USD 4-hour Chart
The next target for NZD/USD is set at 0.6409, the December 2023 high. However, a more optimistic target of 0.6448 is also possible, calculated using the 0.618 ratio of the range’s height.
With the recent breakout, the short-term trend has shifted to bullish, making long positions more favorable over short positions. Remember, “the trend is your friend.”
Analysis
For those looking to invest in NZD/USD, now is the time to consider long positions as the pair shows signs of a bullish trend. The breakout from the multi-month range indicates potential gains in the near future, with targets set at 0.6409 and 0.6448.
It’s important to stay updated on market trends and make informed decisions to maximize profits in the financial market. Remember, the trend is your friend when it comes to investment strategies.