In yesterday's analysis, I expected NU to have further continuation to the upside, which was exactly what the market performed. On 16th - 17th Feb, I called a fakeout at 0.7180 minor support zone as I noticed a clusters of SL below it, I will link it in the comment section below on spotting a fakeout beforehand.
In today's session, I will be remain neutral bias as the market is currently quite over-stretched. Although a breakout has clearly occurred, be aware of deeper pullback to shake out weak hands. As the breakout at 0.73 resistance zone wasn't strong enough, we can expect deeper pullback before further continuation to the upside. I will be using the 18 & 50ema to guide my long entries. Stay reactive!
Do not forget the overall trend on the higher timeframe remains bullish.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
In today's session, I will be remain neutral bias as the market is currently quite over-stretched. Although a breakout has clearly occurred, be aware of deeper pullback to shake out weak hands. As the breakout at 0.73 resistance zone wasn't strong enough, we can expect deeper pullback before further continuation to the upside. I will be using the 18 & 50ema to guide my long entries. Stay reactive!
Do not forget the overall trend on the higher timeframe remains bullish.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
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Previous analysis
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