NZDUSD SCOPE FOR A BIG DROP
Bulls were not able to make a decisive close above the important pink trendline.
Bears used the fundamental trigger of the RBNZ to make an impulsive move lower forming three black crows.
For me it seems like the top is in place, i am looking to sell a corrective move higher towards 0.7300 because i think bears should not allow for a close above the pink trendline, so this red box should be a decent short area.
I will be checking lower timeframes for a more accurate entry.
Stops should be placed above the high. And the potential target should be around 0.7000 area.
Good Luck!
Bears used the fundamental trigger of the RBNZ to make an impulsive move lower forming three black crows.
For me it seems like the top is in place, i am looking to sell a corrective move higher towards 0.7300 because i think bears should not allow for a close above the pink trendline, so this red box should be a decent short area.
I will be checking lower timeframes for a more accurate entry.
Stops should be placed above the high. And the potential target should be around 0.7000 area.
Good Luck!
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.