Potential short opportunity NZD/USD next week

2020年6月28日

On weekly timeframe we have 3 weeks rejection from a trend line.
Last week we had a breakout of a resistance level and retest of a trend line with a long wick showing a bearish pressure.
Next week probably opens with a gap, still need some price action confirmation, but i am bearish overall

Potential TP - 0.59628 (more long-term)


Lower highs and lower lows are updating on a weekly and daily charts, so we have a valid bearish trend


We can even have a massive bearish move to 0.54659, but at first we have to break previous support

On 4 hours we have a multiple reactions to the trend line

From daily perspective i observe an indecision, or price just accumulation for a move.

Price currently stuck on a support/resistance but i expect a solid move next week

So put your eyes on this currency pair, wait for a bearish confirmation and go all in (joke) =)

Put your loss and take profit depending on your trading strategy and risk management .

Daily

4 Hours