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hmwalker_
Apr 10, 2020 10:51 AM

NZDUSD 1HR Ascending Channel Reversal Long

New Zealand Dollar/U.S. DollarFXCM

Description

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.
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