Looking back at my last Long analysis for NZD/USD we achieved target 1 but target 2 at 0.6950 was missed by about 8 pips. I believe we still can see the 0.7000 level taken out in few weeks.
Now where is the short idea coming from? Look at the daily closure forming a tweezer top. Price tried two days in a row to break the 0.6950 level but failed and formed a shooting star from the highs.
I think it is a safe 30 pips short towards 0.6850 support level. If the 0.6850 level holds as support and we can see some kind of reversal pattern being formed from there, look out for another long opportunity towards the target zone at 0.70500 level.
Will update the idea after second daily closure.
Now where is the short idea coming from? Look at the daily closure forming a tweezer top. Price tried two days in a row to break the 0.6950 level but failed and formed a shooting star from the highs.
I think it is a safe 30 pips short towards 0.6850 support level. If the 0.6850 level holds as support and we can see some kind of reversal pattern being formed from there, look out for another long opportunity towards the target zone at 0.70500 level.
Will update the idea after second daily closure.
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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.