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KaltoireCapital

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

Short
New Zealand Dollar / U.S. Dollar (FX:NZDUSD)  
KaltoireCapital Updated   
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Trend Analysis Chart Patterns Beyond Technical Analysis NZDUSD nzdusdlong nzdusdshort nzdusdtrade nzdusdanalysis nzdusddaily nzdusdsell nzdusdbreakout
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trendanalysis chartpattern beyondta nzdusd nzdusdlong nzdusdshort nzdusdtrade nzdusdanalysis nzdusddaily nzdusdsell nzdusdbreakout
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:
snapshot
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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KaltoireCapital
NZD/USD Big Sell, TP 400 pips, low risk set-up
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