NZDUSD fascinating for short position
NZDUSD fascinating for short position also correlated to audusd currency pair (analysis linked below). USD currency is getting atractive while the supply spot in getting attractive to usd investors between 0.70795 and 0.70722 resistance zone. On the other side Kiwi has reached a new higher high level a week ago. Currency tried to continue bullish at few tries from 4H and H1 timframe perspective but without much strengt.
Is this the question buyers are getting tired or sellers are trying to shorten positions? To this answer we are calling out one of our Elite students who is proving important facts about nzdusd analysis. He said that Nzdusd might hit short targets. By that currency will test stronger support zone on daily timeframe, between 0.69123 and 0.69268 critical levels. From this spot we have to respect further facts about overall trend for this currency pair.
Expectations for nzdusd currency pair:
Price is expected to break 0.70317 support level and hold bellow. With price confirmation, we are going to enter short position and start looking for three lower targets:
T1: 0.70209
T2: 0.69627
T3: 0.69272
If price won't go as we speculate, then price might test resistance level at 0.70668.
Why we are drawing this way, can be understandable to every trader especially if you are Elite one.
*drawings are made superficially on purpose. We do not want to reveal all our Elite secrets, but once you are one of Elite then every analysis become easy to understand*
If you'd like to know why and how we look chart and manage price action with elite custom indicator system, you are more then welcome in our Elitefxacademy community
Good trading
Elitefxacademy
Is this the question buyers are getting tired or sellers are trying to shorten positions? To this answer we are calling out one of our Elite students who is proving important facts about nzdusd analysis. He said that Nzdusd might hit short targets. By that currency will test stronger support zone on daily timeframe, between 0.69123 and 0.69268 critical levels. From this spot we have to respect further facts about overall trend for this currency pair.
Expectations for nzdusd currency pair:
Price is expected to break 0.70317 support level and hold bellow. With price confirmation, we are going to enter short position and start looking for three lower targets:
T1: 0.70209
T2: 0.69627
T3: 0.69272
If price won't go as we speculate, then price might test resistance level at 0.70668.
Why we are drawing this way, can be understandable to every trader especially if you are Elite one.
*drawings are made superficially on purpose. We do not want to reveal all our Elite secrets, but once you are one of Elite then every analysis become easy to understand*
If you'd like to know why and how we look chart and manage price action with elite custom indicator system, you are more then welcome in our Elitefxacademy community
Good trading
Elitefxacademy
