NZDUSD H4 Potential Bearish Reversal
Price is trying to respect the trendline. If it rejects the trendline, there is a great posibility that the price will retest the demand zone at 0.6892 and continue the bullish move.
But if the price breaks the demand zone, it might retest the lower trendline of the channel.
But if the price breaks the demand zone, it might retest the lower trendline of the channel.
Note
Price is consolidating at the demand zone. If it doesn't break the demand zone, long positions are of higher chances to hit TP.
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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.