NZDUSD SHORT TRADE

8 thg 1, 2020

After the formation of the double bottom a minor support was formed. The market then pulled back up forming a new minor resistance zone and then maintained the downward trend. The minor support zone created by the double bottom formation was broken and this was confirmed by the H4 candle closing below the support zone. The market then moved to retest the broken support zone, now turned resistance zone. A close of the H4 candle below the resistance zone will be a clear confirmation of the market moving further down to the support area of 0.66000 and then further down to 0.65000