NZDUSD Catch the next drop if you haven't
hi traders:
Similar like AUDUSD I just shared, NZDUSD is following the same bearish development as well.
From my previous outlook and forecast,
Price hit the double tops, reversal impulse down, and formed continuation correction to drop more.
Now that price has a short term pullback, smaller, ascending channel, we could expect more downside from the price.
Ideally price should break below the HTF continuation structure, and formed lower time frame bearish development to further confirm the downside to the next previous lows.
Higher time frame wise, we do see strong bearish bias, and is looking clean for another downside move.
Thank you
jojo
Related publications
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.