Potential Trade Setup on NZDUSD
NZDUSD is on a strong 3-week rally correction that almost got broken to the downside last week and successfully retested on Friday
That said, I am still quite anticipating for a possible continuation of the bearish trajectory that started last week to continue towards the MAY low at 0.5880
Trading Plan:
1. SELL: is currently in play, and a further downside movement can be well followed through in the 4H chart.
2. BUY: if the resistance is broken and the retest is successful.
Targets:
1. Can be 1:2 for either entry.
NZDUSD is on a strong 3-week rally correction that almost got broken to the downside last week and successfully retested on Friday
That said, I am still quite anticipating for a possible continuation of the bearish trajectory that started last week to continue towards the MAY low at 0.5880
Trading Plan:
1. SELL: is currently in play, and a further downside movement can be well followed through in the 4H chart.
2. BUY: if the resistance is broken and the retest is successful.
Targets:
1. Can be 1:2 for either entry.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.