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NDOBObanks

NZDUSD Rising Wedge Pattern Breakout

Short
New Zealand Dollar / U.S. Dollar (SAXO:NZDUSD)  
NDOBObanks Updated   
SAXO:NZDUSD   New Zealand Dollar / U.S. Dollar
Trend Analysis Chart Patterns nzdusdshort nzdusdanalysis nzdusdtrade Rising Wedge wedgebreakout downtrend nzdshort
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trendanalysis chartpattern nzdusdshort nzdusdanalysis nzdusdtrade risingwedge wedgebreakout downtrend nzdshort
The pair is already in a strong downtrend on higher time frames. We are expecting further weakness which is signalled by the breakout of the rising wedge pattern. We can also see the formation of a new low and a breakout of a key level which further supports our directional basis
Comment:
Price seems to be gaining downward momentum in the direction of the trend
Comment:
Price has pulled back close to our entry. This is a another chance to enter.
Trade closed manually
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