In yesterday's analysis, I expected NU to reject the 0.7310 resistance zone with bearish continuation towards 0.7237 (current price area), which was exactly what the market performed. In today's analysis, I will be focusing on short-term selling opportunities. NU has just performed a downwards breakout of an exhaustion pattern, further sell-off could be expected towards the 0.7165 support zone. However, if we noticed any sudden bullish momentum pushing price back above the short-term & medium-term EMAs (18 & 50emas), that'd invalidate the short setup.
The higher timeframe picture remains bullish, I'm only trying to capitalize on the short-term bearish sentiment in the market. Stay flexible.
Trade safe.
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The higher timeframe picture remains bullish, I'm only trying to capitalize on the short-term bearish sentiment in the market. Stay flexible.
Trade safe.
Do follow my profile for daily fx forecast & educational content.