NZDUSD bearish momentum starting, catch the train!, 2hr
NZDUSD is quite a good pair to trade and a very volatile one at the same time. Its quite dependable at times on solid setups. But previously it was in a very strong bullish trend.
As we know what goes up must come down eventually at some point. The pair firstly gave us a Head & Shoulder trend reversal pattern to indicate that the bullish trend is ending. The pair broke out of the bullish trendline which was at a very strong support level and crossed it. The pair came back to retest the zone, thus giving us a bearish flag continuation pattern that we are going to expect further more selling opportunities.
As we know what goes up must come down eventually at some point. The pair firstly gave us a Head & Shoulder trend reversal pattern to indicate that the bullish trend is ending. The pair broke out of the bullish trendline which was at a very strong support level and crossed it. The pair came back to retest the zone, thus giving us a bearish flag continuation pattern that we are going to expect further more selling opportunities.
Penafian
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