I believe the bulls have exhausted at .7275 weekly resistance, and the bears will start to take over soon. Micro-trend line has been broken on 4hr and the strong bearish candle noted by the red arrow shows very aggressive selling pressure at this weekly resistance zone. We also have a Crossdown of the 21/8 on 4hr for more confluence. If we take a look at the ...
Order entry short on NZDUSD at 0.70905. Last weeks Big Shadow close on weekly TF suggest further move to the south. Price has broken below .711 daily Support level and is now showing signs of resistance which makes this a good time to short.(if trade is triggered at .70905 RR 1.25 We also have confluence with EMA and MA indicators.
Though scalping isn't really my expertise, I have been experimenting on the one hour time frame, using a daily bias. strong daily close yesterday suggest some temporary bullish activity. 1.2255 level was oncer resistance one hour and is now proving to hold as support. Longing with a decent R/R . Wish me luck
I think AUDNZD i still bearish for the next couple of days.. Double bottom in Red suggest downtrend could be over soon, but it has faded pretty well from this area in the past and now with daily trendline confluence we should get more sellers. Resistance line held up pretty last time so we could get a nice sell off. R/R 1 : 1.5