NZD/USD SELLIn the higher time frame i can see that NZD/USD is consolidating near the Key resistance area, which it failed to break above after multiple attempts.
I expect the price to once again fail to break the Key resistance area, and the price to fall until the key support area ( Yellow Rectangle )
If the price manages to reach the yellow support area and manages to break below it, I expect the market structure to reverse indicating an end of the bullish uptrend that it had been following, and a new downtrend to be formed.
Nzdusdsell
NzdUsd to maintain its range?In the past month and a half, NzdUsd traded in a range between 0.7250 and 0.7100 (ignoring the short-lived spike above 0.7250 at the beginning of the year)
With DXY looking ready for a new leg up I expect Kiwi to also roll back to at least the bottom of the range at 0.71.
Also a sell trade with this target can have a great R:R of more than 1:2
A daily close above 0.7250 would negate this scenario
NZDUSD - Sell now valid 💥USD has had a poor week, could it hold at these levels and force some XXXUSD pairs back down?
Lets see.
Entry, SL and TP details are on the screen.
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Darren
NZDUSD 1H👋 Hello and welcome traders to another trade
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