(NZD| USD) Forex Trading Analysis Today Forex Forecast | MAR 20, 2023 | NZDUSD Analysis

Forex Trading Analysis

I am going to analyze NZDUSD currency pair let us start the top to bottom Elliot wave analysis inside the daily time frame the trend is up in the NZDUSD currency pair daily time frame support is present at 0.551 price level price action is most likely going to move sideways and then drop after that I expect bullish wave C zigzag corrective leg in coming trading days a decisive bearish break below 0.551 support level is going to end up Trend in the daily chart of NZDUSD currency pair

At 4Hour time frame price action is printing lower swing highs and lower swing lows to me NZDUSD pair Trend looks down in 4Hour time frame

at 1-hour time frame, the trend is down in 1 hour chart intraday resistance is present at 0.656 price level price action is most likely going to drop to print bearish with five impulse leg which offers a chance to join the downtrend in nzd usd
here decisive bullish breakout above the 0.6065 resistance level is going to end downtrend in 1 hour chart of the New Zealand dollar versus the United States dollar currency pair

The red color highlighted area offers a selling opportunity which is the previous fourth wave of one lesser degree take note you must always trade with money management rules to control risk