NZDUSD Trade Idea

١٠ يناير ٢٠٢١

In the previous analysis (8th Jan), I discussed about the selling opportunities around 0.7267 minor resistance zone as NU was forming an exhaustion pattern (flag) with 0.7220 as the initial target, which was exactly what the market performed. Personally, I do not favor NU at the moment as there are too many minor zones to be aware of which gives us tough time placing a sensible stops. However, do not forget the overall trend on the higher timeframe remains bullish. Currently there are two setups that I am looking for

1. Failure to create higher highs, rejecting 0.7241 minor resistance zone with further bearish continuation towards 0.7195 & 0.7171 as targets (Bearish).
2. A double bottom setup rejecting 0.7215 (Friday's low), reversing upwards (Bullish).
3. Price rotates towards the upside tomorrow, finding 0.7241 level as a support for bullish continuation setup, with 0.73 as target (Bullish).

Will keep it updated tomorrow during the Asia session. Trade safe.

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١٠ يناير ٢٠٢١

ملاحظة

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