NZDUSD D1 Swing Trade Position Analysis
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Descriptive breakdown of what I am looking on NZDUSD for this upcoming week. Price has previously following a downtrend making lower lows & highs. Price has formed an inverse head on shoulders formation, & the neckline has been broken which aligns with resistance structure of the previous downtrend. Price now is steadily forming a series of higher highs & lows on the lower timeframe (H4-H2). Now that price has broken above this key level zone, price has retested broken resistance as new support & has reacted twice off this daily key level of support. Next week, I am anticipating for price to make one last retest of the support zone for a 3rd rejection / retest, to active buying positions & my upside target will align with the descending trend line & powerful resistance zone.
Hope you enjoyed my breakdown feel free to drop a thumbs up if you agree or comment if you would like to discuss! Lets have a great trading week & stay ahead of the game :)
Hope you enjoyed my breakdown feel free to drop a thumbs up if you agree or comment if you would like to discuss! Lets have a great trading week & stay ahead of the game :)
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