NZDUSD Long Idea on smaller time frame
NZDUSD is reaching a significant support area on weekly chart. Watch for a possible counter trend bounce on a lower time frame. I will be looking for a price reversal on m15 chart.
No trade at the moment. I am waiting for a strong rejection candle in this area. Idea stop level is around 0.68.
I do not want to be involved if price breaks below 0.68 level, this is a strong move and will likely continue to the downside.
Given that its the end of the week, there could be some profit taking and a small short squeeze on lower time frame charts.
Watching for now. No trade.
No trade at the moment. I am waiting for a strong rejection candle in this area. Idea stop level is around 0.68.
I do not want to be involved if price breaks below 0.68 level, this is a strong move and will likely continue to the downside.
Given that its the end of the week, there could be some profit taking and a small short squeeze on lower time frame charts.
Watching for now. No trade.