NZD-USD BEARISH BAT FORMATION (SELL OPPORTUNITY)
NZD-USD IS TRADING AT HIGHEST OF YEAR 2020. AUD & NZD HAS BEEN STRONGEST SINCE MARCH-2020 AMID BROAD US DOLLAR WEAKNESS. STILL NZD-USD IS NOT SHOWING ANY SIGN OF WEAKNESS. ON DAILY CHART.
PAIR HAS BEEN APPROACHING HIGHS OF 2020 BUT PACE OF BULLS IS GRADUALLY REDUCING AFTER EACH SWING HIGHER. ON H-4 CHART PAIR HAS FORMED BEARISH BAT FORMATION WHICH COMPLETED AT 0.6768.
CURRENTLY IT IS TRADING ABOVE SELL PRICE OF BEARISH BAT FORMATION, WHICH GIVES BETTER RISK REWARD OPPORTUNITY.
SELL ENTRY: 0.6768
STOP LOSS: 0.6813
TARGET-1: 0.6722
TARGET-2: 0.6675
PAIR HAS BEEN APPROACHING HIGHS OF 2020 BUT PACE OF BULLS IS GRADUALLY REDUCING AFTER EACH SWING HIGHER. ON H-4 CHART PAIR HAS FORMED BEARISH BAT FORMATION WHICH COMPLETED AT 0.6768.
CURRENTLY IT IS TRADING ABOVE SELL PRICE OF BEARISH BAT FORMATION, WHICH GIVES BETTER RISK REWARD OPPORTUNITY.
SELL ENTRY: 0.6768
STOP LOSS: 0.6813
TARGET-1: 0.6722
TARGET-2: 0.6675
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.