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NZDUSD Trade Idea

646
In yesterday's analysis, I expected NU to re-test the 0.7220 support zone before further continuation towards the upside. Since early January I've been talking about a potential short term bearish reversal due to the over-stretched market condition. On 5th Feb, I expected NU to respect the bottom band of the squeezing model, with bullish continuation testing the upper band followed by an upwards breakout, which was exactly what the market performed. I will link them in the comment section below if you're keen to learn more about price action + pattern trading.

In today's trading session, I will be focusing on short-term buying opportunities as NU is currently forming an exhaustion pattern with potential continuation towards the 0.73 resistance zone.

Do not forget the overall trend remains bullish on the higher timeframe.

Trade safe.

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Uwaga
Previous analysis

NZDUSD Trade Idea
Uwaga
NZDUSD Trade Idea
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NZDUSD Trade Idea

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