Dollar New Zealand / Dollar ASDiupdate NZDUSD Trade Idea
In Friday's (5th Feb) analysis, I talked about the squeezing model forming on NU with possible rotation back to the upper band, which was exactly what the market performed. In today's trading session, I will remain neutral bias as NU is currently in a range bound condition. There are two setups that I am looking at
1. If we notice 0.7220 minor resistance zone is clearly breached, we could take a retracement entry with 0.73 high as the target. But be very cautious of potential fakeout possibility, A violation of the upper band does not instantly give you a buy signal, as price could easily performs a fakeout then rollover downwards (Bullish)
2. If the upper band is again rejected, that could send NU towards 0.7108 support zone (Bearish)
However, do not forget the overall trend on the higher timeframe remains bullish.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
1. If we notice 0.7220 minor resistance zone is clearly breached, we could take a retracement entry with 0.73 high as the target. But be very cautious of potential fakeout possibility, A violation of the upper band does not instantly give you a buy signal, as price could easily performs a fakeout then rollover downwards (Bullish)
2. If the upper band is again rejected, that could send NU towards 0.7108 support zone (Bearish)
However, do not forget the overall trend on the higher timeframe remains bullish.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
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Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.