BluetonaFX - NZDUSD Bear Flag SHORT IdeaHi Traders!
There is a bear flag pattern on NZDUSD, and there is a possibility of a continuation of the bearish trend if we get a break of the flag channel.
Price Action 📊
There is a lack of bullish momentum in the market due to a lack of market swings to counter the bearish trend; this tells us that the bears are in full control of this market.
We are looking for further bearish momentum to break and close below the flag's channel.
Fundamental Analysis 📰
Traders are currently very bullish on the US dollar due to the very strong economic data and positive statements from the Federal Reserve.
Support 📉
0.58892: FLAG CHANNEL SUPPORT
Resistance 📈
0.60483: FLAG CHANNEL RESISTANCE
Risk ⚠️
No more than 2% of your capital.
Reward 💰
At least 4% of your capital.
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Trade safely and responsibly.
BluetonaFX
