NZD/USD is possibly in a Distribution Phase after a long Bull-Run. The time to SHORT/SELL a pair can be NEARBY. Short/Sell NZD/USD is recommended once the Range Breaks Downwards. A safe SHORT ZONE could be 0.68550 Possible Targets could be 0.67130 and 0.64700. Stop Loss is not given yet because the Price is Still In Range and TRADE IS NOT INTACT YET.
Note: This post is purely for education purpose only. Please do your own analysis before any trade.
REASONS FOR DISTRUBITION PHASE ARE AS FOLLOWING;
- No New Higher High has been formed since February 2021 - The Pair has been in a Bull-Run for more than a year - Strong Trend Resistance is near by and it is Intact - Descending Trendline shows that Bears are in Power - Prices have been under 200 DMA for a while now