In yesterday's analysis, I expected bearish
momentum and the trendline to fail, attracting more buyers onto the wrong side as I noticed immediately weakness in NU after the trendline was breached with 0.7171 & 0.7094 as targets, which was exactly what the market performed. Currently will be looking for short-term selling opportunities after some pullback, ideally re-test the 0.7161 minor resistance zone
before further bearish
continuation towards 0.7094 support zone
. However, do not forget the overall trend on the higher timeframe remains bullish
Will keep it updated on Monday (18th Jan) during the Asia session. Trade safe.
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