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May 07, 2025

Trade ideas

NZDUSD: Ascending Channel

NZDUSD, H2

NZDUSDH2.png

On the H2, NZDUSD navigates within an ascending channel and aims to retest the 0.5980 support level, aligned with the golden Fibonacci ratio. The bullish trend is strong, so we can expect further rising.

  • We are considering buying NZDUSD on a rebound from the 0.5980 support with a target of 0.6030.

Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

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Timur Yurdagyul

Author: Timur Yurdagyul

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