I want to share with you my thought about nzdusd pair. We see a steady bullish movement inside a bullish channel. As the market approached 0.694 level, we see a formation of a double top pattern and a rejection candle.
Discussing this market sentiment on Friday with my clients, we have sold the violation of local support line of a double top. Our initial target is above 0.687 level.
as the market reaches this level of structure, we will either see a bullish continuation or a bearish violation of a channel.
Bearish violation of this channel will trigger a subsequent selling reaction, so we will see a bearish continuation to lower levels of structure.
Good luck!
If you have question dont hesitate to text me in pm!
Comment
⋅
retest of a broken support and bearish continuation