NZDUSD is a pair I’d like to put my focus on from now on cause I adore the way it respects price action. On the daily TF we’ve rejected the previous daily high 0.6940 with a somewhat tweezer tops and on the last day of last week we closed with a strong bearish engulfing + theres a little wick on the downside so it’s also somewhere between a shooting star and marubozu. Yesterday we closed the day with a bearish spinning top. If we then go down to the 4H TF we can see how we broke to the downside of the consolidation box and are now retesting previous support as resistance. On the D TF we are still with bullish MA’s but on the hourly TF’s we crossed bearish. I expect price to break the hourly support and drop all the way to the monthly support 0.6850 with chance to break thru and test the hourly lows around 0.6820 .
On the 2H TF we rejected 0.6900 with several wicks and are now closing the current candle as a evening star pattern.
On the 2H TF we rejected 0.6900 with several wicks and are now closing the current candle as a evening star pattern.