NZDUSD ANALYSIS! DAILY TIMEFRAME (SHORT!)
Good day traders! I hope you all have a great trading day ahead!
Start off with NZDUSD! From Daily Timeframe perspective, price is obviously losing its bullish momentum and forming descending triangle (as shown in the chart). Therefore, a break of the support will expose the price to 0.633 (green). And a retest will occur at current support which may turn into resistance and price would be exposed to the further downside.
Always go for a clear trading strategy and enter trade with good risk management. It's always you versus yourself instead of you versus the market.
Start off with NZDUSD! From Daily Timeframe perspective, price is obviously losing its bullish momentum and forming descending triangle (as shown in the chart). Therefore, a break of the support will expose the price to 0.633 (green). And a retest will occur at current support which may turn into resistance and price would be exposed to the further downside.
Always go for a clear trading strategy and enter trade with good risk management. It's always you versus yourself instead of you versus the market.