Future Trade? NZD/USD Analysis!
Bearish Outlook
Monthly: Price is closing in on previous monthly resistance that has been testing multiple times.
Also, if you look price created a left shoulder to then touching previous resistance to then rally
down for it to rally back up to resistance.
Weekly: After the strong pulse to the upside, price movement is approaching a significant resistance level.
Daily: With the red big candle in the box, taking out more than the past few days gains and taking at
least three green candles to cover three-quarters of the big red candle. While price action is still looking bullish,
we could possibly see some bearish movement to complete the inverse head and shoulder pattern
Until then, we wait for price action to shift from a daily bullish trend to a bearish. Then we move on to the 4 hour
chart to look for our entry.
Monthly: Price is closing in on previous monthly resistance that has been testing multiple times.
Also, if you look price created a left shoulder to then touching previous resistance to then rally
down for it to rally back up to resistance.
Weekly: After the strong pulse to the upside, price movement is approaching a significant resistance level.
Daily: With the red big candle in the box, taking out more than the past few days gains and taking at
least three green candles to cover three-quarters of the big red candle. While price action is still looking bullish,
we could possibly see some bearish movement to complete the inverse head and shoulder pattern
Until then, we wait for price action to shift from a daily bullish trend to a bearish. Then we move on to the 4 hour
chart to look for our entry.
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