NZDUSD Strong Bearish Signal, Cup & Handle Pattern {Alpha Forex}

NZDUSD PRICE FORECAST; CUP & HANDLE CHART PATTERN.

Ascending Channel Breakdown: The breakdown of an ascending channel is often considered a bearish signal, indicating a potential reversal in the upward trend.

Cup & Handle Pattern: A cup & handle pattern is typically a bullish continuation pattern. However, if the handle part of the pattern fails to hold, it can indeed lead to a bearish scenario.

EMA Crossover: The golden crossover of the 200EMA and 50EMA is generally considered a bullish signal. However, it's important to note that crossovers may lag, and other factors should be considered.

Technical Targets: The mentioned support levels at 0.5950 and 0.5790 are considered potential targets for the downward movement. Traders often use these levels to set stop-loss or take-profit orders.

Volume Increase on the Selling Side: An increase in selling volume supports the bearish scenario, suggesting strong participation from sellers