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.
Do follow my profile for daily fx forecast & educational content.
Will keep it updated on Monday (18th Jan) during the Asia session. Trade safe.
Do follow my profile for daily fx forecast & educational content.
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Previous analysis
