NZDUSD wait for a retrace to short again
Price Altitude: Middle
Daily Trend: Down
4H Trend: Down
Analysis: NZDUSD sold off last week and has moved lower in a parabolic fashion without a retrace. In my opinion the pair is over extended and due for a pullback this week.
Prediction: Since price hit 25% resistance line, I anticipate a pullback into one of the two highlighted 4H supply zones before reversing and moving lower to continue the trend lower.
Price Points of Interest:
4H Supply Zone @ 0.66398
4H Supply Zone @ 0.66655
This analysis is meant to be educational, inspirational and confirming of your own analysis. Trade carefully, trade wisely by managing your risk exposure.
Daily Trend: Down
4H Trend: Down
Analysis: NZDUSD sold off last week and has moved lower in a parabolic fashion without a retrace. In my opinion the pair is over extended and due for a pullback this week.
Prediction: Since price hit 25% resistance line, I anticipate a pullback into one of the two highlighted 4H supply zones before reversing and moving lower to continue the trend lower.
Price Points of Interest:
4H Supply Zone @ 0.66398
4H Supply Zone @ 0.66655
This analysis is meant to be educational, inspirational and confirming of your own analysis. Trade carefully, trade wisely by managing your risk exposure.
Comment:
NZDUSD is basing right at the 25% resistance where it could drop or rally from. Bias is still to short this pair but at a quality supply outlined above.
Comment:
No decent pullback has occurred yet into the zones I am looking at. Waiting.