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NZD/USD Potential opportunity to shorten the market

بيع
OANDA:NZDUSD   دولار نيوزيلندي / دولار أمريكي
Hello traders. This is a NZD/USD hourly chart. I don’t want to focus on the fundamental factors here, but you should keep in mind that the fundamentals change trends in the Forex market. In any case, we follow technical bias, so here we have a butterfly pattern that suggests a possible short-term opportunity to sell. As you can see, the butterfly extension of 1.618 stands at about 0.6560, and I suggest we can try to establish a short position here. The pair may not reach exactly this level (we know, perfection is rare in the Forex market), but look for double tops, wash and rinse patterns or any other bearish patterns around this level, and then shorten the market if you think is right. Also, don't marry for a position and use an achievable target, because if you look at the bigger picture, you can see that we can get an inverted head and shoulders pattern, which suggests a bullish mood for a while.
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