NZDUSD | MY PERSPECTIVE FOR THE NEW WEEK
The price moved over 110pips in our direction since my last publication (see link below for reference purposes) as the pair came under renewed bearish pressure last week dropping to an all-time low of 0.65000 since price hits high at 0.67200 at the end of July 2020. Breakdown and retest of my Key zone insinuate a further risk of decline in the coming weeks(s).
Tendency: Downtrend ( Bearish )
Structure: Breakdown | Supply & Demand
Observation: i. Breakdown and retest of Key zone nudges price for a further decline.
Trading plan: SELL confirmation with a minimum potential profit of 120 pips.
Risk/Reward: 1:4
Potential Duration: 2 to 6 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
NirvanaForex
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Tendency: Downtrend ( Bearish )
Structure: Breakdown | Supply & Demand
Observation: i. Breakdown and retest of Key zone nudges price for a further decline.
Trading plan: SELL confirmation with a minimum potential profit of 120 pips.
Risk/Reward: 1:4
Potential Duration: 2 to 6 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
NirvanaForex
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Trade smart. Trade consciously
