NZDUSD wait for a retrace to short again
Updated
Price Altitude: Middle
Daily Trend: Down
4H Trend: Down
Analysis: NZDUSD sold off last week and has moved lower in a parabolic fashion without a retrace. In my opinion the pair is over extended and due for a pullback this week.
Prediction: Since price hit 25% resistance line, I anticipate a pullback into one of the two highlighted 4H supply zones before reversing and moving lower to continue the trend lower.
Price Points of Interest:
4H Supply Zone @ 0.66398
4H Supply Zone @ 0.66655
This analysis is meant to be educational, inspirational and confirming of your own analysis. Trade carefully, trade wisely by managing your risk exposure.
Daily Trend: Down
4H Trend: Down
Analysis: NZDUSD sold off last week and has moved lower in a parabolic fashion without a retrace. In my opinion the pair is over extended and due for a pullback this week.
Prediction: Since price hit 25% resistance line, I anticipate a pullback into one of the two highlighted 4H supply zones before reversing and moving lower to continue the trend lower.
Price Points of Interest:
4H Supply Zone @ 0.66398
4H Supply Zone @ 0.66655
This analysis is meant to be educational, inspirational and confirming of your own analysis. Trade carefully, trade wisely by managing your risk exposure.
Note
NZDUSD is basing right at the 25% resistance where it could drop or rally from. Bias is still to short this pair but at a quality supply outlined above.Note
No decent pullback has occurred yet into the zones I am looking at. Waiting.
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.