NZDUSD | Trading near Support area.
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Reason:
- The price is now trading near a support area .
- Less resistance to the upside.
- Still in uptrend considering higher timeframes.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Reason:
- The price is now trading near a support area .
- Less resistance to the upside.
- Still in uptrend considering higher timeframes.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Order cancelled:
I can see there is a good resistance area formed near 0.61964, which could push the price towards the downside. Also, based on the current price action, the current support area looks weak as well. So it is not a good idea to stick on this trade. So I'm not going to enter this trade unless I get confirmations on higher time frames.