Trading this pair on price action and fundamentals. As this is a long term trade, we need to look at the NZD & USD outlook going into the next Qtr. Bottom line, I'm bullish USD & am changing my bullish stance on NZD to bearish.
From a price action & structure perspective, we can see the bearish flag on the weekly chart poised for some downside moves. We are at the top of the channel, so some good R/R on offer. I am waiting for an entry signal on the 1hr chart to go short so that we maximize our position.
Disclaimer, disclaimer, not financial advice, trade your own plan, etc. etc.
Good luck & green trades!
From a price action & structure perspective, we can see the bearish flag on the weekly chart poised for some downside moves. We are at the top of the channel, so some good R/R on offer. I am waiting for an entry signal on the 1hr chart to go short so that we maximize our position.
Disclaimer, disclaimer, not financial advice, trade your own plan, etc. etc.
Good luck & green trades!
Green trades