💡NZDUSD: Will there be a turnaround?
NZDUSD witnessed its third consecutive day of decline. However, the downward momentum appears relatively mild, given that three days of decline do not match the intensity of the preceding single day of increase. The price is currently undergoing a retest, suggesting a potential stabilization. The chart structure on NZDUSD D1 indicates a cumulative sideways movement.
On the H1 timeframe, NZDUSD is forming a price range, indicative of a cumulative sideways phase. The primary strategy for today involves selling NZDUSD on the H1 chart from higher levels. Alternatively, there's a reserved approach to wait for a potential buy opportunity if NZDUSD on H1 breaks above and successfully retests.
On the H1 timeframe, NZDUSD is forming a price range, indicative of a cumulative sideways phase. The primary strategy for today involves selling NZDUSD on the H1 chart from higher levels. Alternatively, there's a reserved approach to wait for a potential buy opportunity if NZDUSD on H1 breaks above and successfully retests.
Trade closed manually
DONE SELL
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.