NZD/USD
failed to break above the resistance at 0.6660 and moved to the downside again.
The pair is currently testing the support at 0.6560, visible on the four-hour
filter chart. I would say that currently the situation is pretty uncertain as
the pair is still consolidating and that it might still try to break above the
resistance at 0.6660 even though it is currently attempting to move to the
downside. Personally, I will refrain from opening new short positions before I
see NZD/USD break below the previous low, which is at 0.6497 as there is a very
clearly formed double bottom on the four-hour filter chart.
A pullback before another move downward.
ReplyDeleteLet's see the bearish trend would keep on going.
ReplyDeleteVery good analysis, well done!
ReplyDeleteIntetesting analysis.
ReplyDeleteUseful info!
ReplyDelete