NZDUSD: gearing up for a bear breakdown.
Last week, the market flexed its muscles and climbed above the level of 0.60555, shaking off the chains of the downtrend that has been holding it hostage since February 2, 2023. It's inching up above that level, but our trading strategy suggests that the ceiling is not too far away. While a temporary surge to 0.6137 or even 0.6155 wouldn't be too surprising, we're waiting, that the real show will start in the next 2 trading days.
Classic technical analysis can recognize a rising wedge pattern on the NZD/USD chart. And it's indicating a potential switcheroo to a downward movement.
Waiting for open short positions. Target for this bearish adventure is to hit the 0.6000 and 0.5935-0.5940 levels.
So, get ready to go on a roller coaster ride of short positions $-)
Classic technical analysis can recognize a rising wedge pattern on the NZD/USD chart. And it's indicating a potential switcheroo to a downward movement.
Waiting for open short positions. Target for this bearish adventure is to hit the 0.6000 and 0.5935-0.5940 levels.
So, get ready to go on a roller coaster ride of short positions $-)
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