it will only drop a little more before shooting up to at least 0.63
IndependenTradingFX
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@Forex_Flow Given a bullish flag formation, you have one confirmation. However, we may see US dollar weaken.
We shall see! Wish you a good trading week next week!
S26NYS
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Why short support? USD will get weaker IMO, check out my USDJPY set up. I think NZDUSD is a buy, not a sell.
IndependenTradingFX
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@S26NYS, Price is descending, broke out of a wedge pattern therefore I was expecting a retest to recent level of support to form a higher low; then a continuation to the downside.
However, price appears to be testing the descending trend line, of which... if it breaks, then that is our confirmation for a buy. If it rejects that's our confirmation for a short.