NZDUSD LONG AND SHORT Scenario
Hi guys.
This time I'll be looking into NZDUSD. The Currency has been rallying up since yesterday and today reached our supply area for the second time. Last reaction to the zone was considerably good and this time could same happen. In addition to the supply area we have the broken support which turned into resistance. So with these clues going short it's advisable. But later this afternoon it's going to be a news related to dollar which could impact our analysis so make sure you are monitoring price behavior.
Should price go down we have a broken resistance around 0.5836 which could support the selling off and lead to a reaction. Below it the demand area should also be closely monitored for a secure entry.
If price continues further up then multiple other supply areas could be potential short setups or exit point for long trades. Make sure you do your own assessment prior to taking any trades.
Be honorable
This time I'll be looking into NZDUSD. The Currency has been rallying up since yesterday and today reached our supply area for the second time. Last reaction to the zone was considerably good and this time could same happen. In addition to the supply area we have the broken support which turned into resistance. So with these clues going short it's advisable. But later this afternoon it's going to be a news related to dollar which could impact our analysis so make sure you are monitoring price behavior.
Should price go down we have a broken resistance around 0.5836 which could support the selling off and lead to a reaction. Below it the demand area should also be closely monitored for a secure entry.
If price continues further up then multiple other supply areas could be potential short setups or exit point for long trades. Make sure you do your own assessment prior to taking any trades.
Be honorable
Comment:
Getting close to 0.5836 level
Comment:
Take partial profit
Comment:
Beautiful reaction to 0.5836 level. Bring the stop to break even point.
Comment:
after a significant reaction to our 0.5836 level, price rallied up to the same supply area and touched it for 3rd time and started selling off.