hmwalker_

NZDUSD 1HR Ascending Channel Reversal

Long
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Hi Traders,

Today I am looking at NZDUSD on the 1HR TF as we have recently seen prices rally but we are beginning to see buying pressure lose momentum as price action moves within a ascending channel and respecting .610's even handle ( Structure resistance ). I believe we may see prices decline into the highlighted areas of structure following this slow down in bullish momentum. If we do see a retracement lower then I will be looking for entry reasons to buy the market on the pullback in anticipation for a longer term bullish trend continuation move for a retest back up at .610's.