Yemi_Fx1 | Bearish Setup on NZDUSD
Hello folks,
NZDUSD is one of the pair I have on watchlist this week.
NZDUSD has been trading within an ascending channel since [February 5th].
Price recently tested the 1HTF supply zone at 0.61584, a potential resistance zone.
From Daily Timeframe:
The pair is currently in a consolidation phase following a downtrend. We're expecting a continuation of trend on this time frame.
However, on 1HTF we may experience a pause in price to provide a continuation pattern giving us an opportunity to join the train or we just wait for the complete break and retest of the structure to then go Short on it.
If you found this helpful please support your fellow trader with a like.
NZDUSD is one of the pair I have on watchlist this week.NZDUSD has been trading within an ascending channel since [February 5th].
Price recently tested the 1HTF supply zone at 0.61584, a potential resistance zone.
From Daily Timeframe:
The pair is currently in a consolidation phase following a downtrend. We're expecting a continuation of trend on this time frame.
However, on 1HTF we may experience a pause in price to provide a continuation pattern giving us an opportunity to join the train or we just wait for the complete break and retest of the structure to then go Short on it.
If you found this helpful please support your fellow trader with a like.
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