{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/nzdusd-converges-within-a-triangle-pattern-as-redistribution-looms\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/nzdusd-converges-within-a-triangle-pattern-as-redistribution-looms\/","headline":"NZDUSD Converges Within A Triangle Pattern As Redistribution Looms","name":"NZDUSD Converges Within A Triangle Pattern As Redistribution Looms","description":"NZDUSD Analysis: Price Converges Within A Triangle Pattern As Redistribution Looms NZDUSD converges within a triangle pattern as redistribution looms. The convergence is about to take place as sellers prepare to dump the New Zealand dollar for the US dollar. While the market’s order flow has been bearish for more than three months, more declines […]","datePublished":"2023-07-12","dateModified":"2023-07-12","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jonfox\/#Person","name":"Johnathon Fox","url":"https:\/\/forexschoolonline.com\/author\/jonfox\/","identifier":1,"description":"Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2023\/07\/T40wL6FD.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2023\/07\/T40wL6FD.png","height":595,"width":1195},"url":"https:\/\/forexschoolonline.com\/nzdusd-converges-within-a-triangle-pattern-as-redistribution-looms\/","about":["Article","FX Technical Analysis","NZD\/USD","NZDUSD","Price Action Charts in Focus","Trade Idea","Trade Setups"],"wordCount":299,"keywords":["Daily Chart","Forex","forex price action","FX Technical Analysis","Market Anticipation","Market Expectation","NZD","NZD\/USD","NZDUSD","Price Action","Price Analysis","Price Chart","Technical Analysis","Trade idea","Trade Setup","USD"],"articleBody":"NZDUSD Analysis: Price Converges Within A Triangle Pattern As Redistribution LoomsNZDUSD converges within a triangle pattern as redistribution looms. The convergence is about to take place as sellers prepare to dump the New Zealand dollar for the US dollar. While the market’s order flow has been bearish for more than three months, more declines appear to be coming. As the price approaches the upper band of the Bollinger Bands, the bears are likely getting set.NZDUSD Significant ZonesDemand Zones: $0.59850, $0.55120Supply Zones: $0.65380, $0.70340The triangle pattern consists of the major trendline and diagonal support. As February began, the MACD (Moving Average Convergence Divergence) dived back below the zero line. Before the dive, the MACD had stayed above the zero line for quite some time. The dive indicated the bears’ presence in the first quarter of the year 2023. Moreover, NZDUSD hit the upper band of the Bollinger Bands, causing a selling effect, which contributed to the intensive sell.The trading range in the first quarter of the year was between $0.65380 and $0.56620 price levels. A bounce off the optimal trade entry at the range premium caused a further decline in the NZDUSD. This brought the price into the $0.59850 demand zone. From the $0.59850 demand zone, NZDUSD heads upward to converge within the two transversal lines that constitute the triangle pattern. A bounce off the Fair Value Gap will likely lead the price to the peak of the distribution phase.Market ExpectationFollowing the breakout from the previous four-hour diagonal resistance, the NZDUSD flipped bullishly. The market direction is expected to remain bullish until the major trendline is hit. Note:\u00a0Forexschoolonline.com\u00a0is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results."}