Project_PriceAction
Short

NZDUSD Sell Set-up: Bears just need a little Push

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
NZD/USD appears to be in a trend reversal phase but bears don't have enough momentum so far. That being said, I can definitely see the bulls stepping away slowly. Bears just need a little momentum to break the 0.64 area clearly and then we can expect a bearish move to 0.6270.
I have described a sell set-up in the chart. Please take a look!
Comment: The likelihood of price breaking this 0.64 support is quite high because you can see that every time price bounces from the support level, the bounce is getting weaker and weaker. In this way, simple price action can help you prepare for what's about to happen.
Nothing is 100% certain but analyzing the price action gives you an edge
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Comments

Nice
+1 Reply
@Heng121, Thank you
Reply
Let's get going.
+1 Reply
@MsoJnr, Yes, waiting for a good entry
Reply
Get in it bears!
+1 Reply
@gas2540, Yes, bears must break it
Reply
Nice setup
+1 Reply
@ishacm, Thank you
Reply
Thank you for the analysis. Let’s have the nice catch.
+1 Reply
@ferrafila8, You are welcome. Let's make some money
Reply
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