NZDUSD Trade Idea
In yesterday's analysis, I discussed about potential pullback of NU to re-test the 0.7170 previous S&R zone, which was exactly what the market performed. In today's analysis, I'll be switching to the 4h chart to have a better clarity, with 150ema as a long-term directional bias guide. In today's trading session, will be favoring short-term selling opportunities with 0.7090 support zone as the initial target, ideally crossing below the 150ema and stays below it indicating weakness in NU. However, if we notice sudden bullish momentum pushing price above the 0.7184 resistance level, that would invalidate the short setup.
Do not forget the overall trend on the higher timeframe remains bullish, we're trying to profit from the short-term bearish sentiment in the market.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
Do not forget the overall trend on the higher timeframe remains bullish, we're trying to profit from the short-term bearish sentiment in the market.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
Note
Previous analysis
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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.