NZDUSD - Trend Continuation View

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
407 2 13
Greetings Fellow Traders,

Posted a couple times last week, we had 2 very good selling opportunities off of the weekly bearish strength trend line . Off the second trade the market did not recover any of the over 100 pips rejection off the resistance level and closed the week on a bearish note.

I expect this next week to continue the bearish momentum as we look for some key technical supports to be broken that confirm the trend continuation.

The chart posted is of the weekly chart, but here is a 4 hour view at the same important levels. A break below .6560 this week will add a lot of selling pressure to retest the .64000 area.


Feel free to comment/like/follow
Totaly agree, Im already on this trade :)
Synapse it looks to me that bearish tight flag has broken and we may see one more retest before going down and if it retest we may have good place to renter for those who missed this place before only break above the trend line will invalidate the idea thanks for sharing regards
+1 Reply
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