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First published idea from an inexperienced trader.
as the NZD/USD weekly approaches a close, a hanging man appears to be forming on top of a strong support line, NZD/USD is at it's lowest point for over 12 months.
bearing in mind we have the NPF tomorrow so this can go either way and break the support.
I am bullish on this pair, I suspect the bullish reversal ...
Hanging man at 61% fib retracement. Price is also in line with a strong line of resistance.
Looking at the NZDUSD its been bullish for a over a year but I think the bulls are loosing power and the bears are starting to take over.
From a MONTHLY perspective...
The most recent candlestick has a SHOOTING STAR characteristic. Price attempted to break the weekly resistance at 0.7450 but failed and price came back down. Price is below the monthly resistance ...