NZDUSD - Bearish Pressure Returns

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
351 15 6
Greetings Fellow Traders,

I wanted to bring attention to interesting price action that finished off the trading day for Wednesday this week. NZDUSD's Weekly Bearish Strength is a long ways off from testing, but there is good reason to believe that the lower support for bearish continuation will soon break.

Long story short, keep an eye out for the .64000 level to be broken on a Daily Confirmation. Should this happen we will be making a pass at a medium term bearish continuation. Ultimate targets could rest in the .50-.60 region.

Comment: NZDUSD has a lower time frame entry set up, if you're looking for shorter term trades. Also note where the market reversed during today's trading, old support = new resistance
You know me...In from a while back.
Will add soon.
Looks good.
+1 Reply
Synapse IvanLabrie
Yep! Looks like a good trade incoming
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I was in this since two weeks at 0.6505 but my stop at B/E got hit yesterday morning. Looking for a new entry.
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Synapse _VincentP_
Darn! Hopefully you get that entry in the coming hours/days - One thing that cannot be rushed is the market
_VincentP_ Synapse
Would you consider an entry at a higher level such as 0.65 or higher? Or are you only looking at a short if price moves below 0.64?
Synapse _VincentP_
Absolutely, that entry was above .66 for me though, and due to yesterday's price action a move back up that high seems unlikely. I don't think we're going to see anything above .65 moving forward, but we'll see
nice setup synapse thanks for sharing
+1 Reply
Synapse GoodLuckbabe
Thanks imranafzalmughal4! This trade was not just limited to GBPJPY, hope you all were able to get some pips out of it. :)
thanks for sharing :)
+1 Reply
Synapse rafatox
Hi Rafatox, You're welcome! :)
rafatox Synapse
cheers :)
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i am short with nzdusd since 10 hours
any new thing with this setup
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Synapse MahmoudFathEl-Hoda
Hello MahmoudFathEl-Hoda! I posted an update for NZDUSD lower time frame charts, but please make sure you understand the analysis before going short. I wait for confirmation that the market has broken a level. The key level on the daily chart I am looking at right now is around .64000 on the daily candle, we didn't make it today...tomorrow/end of week will be another attempt at it.
hello man i am short with nzdusd before i see your analysis .. but i ask you about your setup to going short ihave target on 0.6350 first and second target is 0.6250
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Synapse MahmoudFathEl-Hoda
If we can get confirmation below .64000 both of those targets should follow soon after. Nothing has changed with the short bias. Good luck!
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