FX.co ★ Razique | NZD/USD

Analysis of monitoring the movement trend of the New Zealand Dollar / US Dollar currency pair. Time frame – 4 hours. Let's consider the currency pair/instrument from the point of view of the prospects for its further movement in the medium term. A unique channel indicator of linear and nonlinear regression, Extended Regression StopAndReverse, is suitable for analysis, with confirmation of the selected entry point by signals from the RSI (14) and MACD indicators with standard settings. To determine the most optimal exit from the transaction, we will stretch the Fibonacci grid according to the extreme marks of yesterday or today's trading day and select the most profitable option for setting take profit. The chart of this instrument on the selected time frame (time-frame H4) clearly shows us that the first-degree regression line (golden dotted line), showing the direction and state of the current true trend, has a slope to the south, which indicates a period of predominantly downward movement. At the same time, the nonlinear regression channel (convex lines), used to predict the near future, has crossed the golden channel line from top to bottom and shows a downward direction. The price crossed the blue support line of the linear regression channel 2-nd LevelSupLine but reached the minimum value (LOW) of quotes of 0.58474, after which it stopped its decline and began to gradually grow. At this point, the instrument is trading at a price level of 0.59446. Based on all of the above, I expect market price quotes to return and consolidate above the 2-nd LevelSupLine (0.60512) channel line of the 50% FIBO level and further move upward to the golden average line LR of the linear channel 0.60819, coinciding with the Fibo level of 61.8 %. The RSI (14) and MACD indicators are in the oversold area and also show a good opportunity to open a long buy trade.