NZD/USD intraday analysis
NZD/USD is currently showing a strong sell-off from the price point of 0.62411, accompanied by a significant volume area.
This indicates a substantial accumulation of contracts.
It's likely that sellers active in this area will defend their short positions. Should the price revisit this zone, we can expect these strong sellers to exert further downward pressure on the market.
The combination of a downtrend and a strong volume area forms the primary basis for my short trading decision.
Happy trading,
Matty
This indicates a substantial accumulation of contracts.
It's likely that sellers active in this area will defend their short positions. Should the price revisit this zone, we can expect these strong sellers to exert further downward pressure on the market.
The combination of a downtrend and a strong volume area forms the primary basis for my short trading decision.
Happy trading,
Matty
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