NZDUSD Trade Idea
In yesterday's analysis, I expected NU to re-test the 0.7220 support zone before further continuation towards the upside. Since early January I've been talking about a potential short term bearish reversal due to the over-stretched market condition. On 5th Feb, I expected NU to respect the bottom band of the squeezing model, with bullish continuation testing the upper band followed by an upwards breakout, which was exactly what the market performed. I will link them in the comment section below if you're keen to learn more about price action + pattern trading.
In today's trading session, I will be focusing on short-term buying opportunities as NU is currently forming an exhaustion pattern with potential continuation towards the 0.73 resistance zone.
Do not forget the overall trend remains bullish on the higher timeframe.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
In today's trading session, I will be focusing on short-term buying opportunities as NU is currently forming an exhaustion pattern with potential continuation towards the 0.73 resistance zone.
Do not forget the overall trend remains bullish on the higher timeframe.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
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Previous analysis
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Note
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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.