NZDUSD -- preferred scenario & the alternative 29/9/2021
Updated
Hello dear traders,
Today NZDUSD showing a weak selling momentum which could turn into a reversal area but before talking about that there are many levels to be penetrated as shown on the graph and that is the preferred scenario to happen.
In case the market broke below the support area and distributed selling momentum, the alternative scenario is that we will target the next support level.
Be prepared for all markets scenarios and wishing you happy trading.
Today NZDUSD showing a weak selling momentum which could turn into a reversal area but before talking about that there are many levels to be penetrated as shown on the graph and that is the preferred scenario to happen.
In case the market broke below the support area and distributed selling momentum, the alternative scenario is that we will target the next support level.
Be prepared for all markets scenarios and wishing you happy trading.
Note
Don't rush into shorting the market. wait a little bitNote
short nowNote
Since AUDUSD and NZDUSD are highly correlated.The same analysis applies to AUDUSD
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