Possible Trend Reversal for NZDUSD
Looking at NzdUsd, we could finally be seeing this pair break its range its been in for a while now. Looking on the daily timeframe, we could notice that the bullish momentum that this pair once had, has faded away. With this being said, we could start to predict that a trend reversal is in sight.
Focusing on the 4H, price is beginning to break market structure that signals bearish bias. I've outlined a level of significance that would trigger a bearish break of market structure. If price manages to break this level, it is showing the presence of sellers and I'll wait for a retest before executing sell orders. But for now, have my alert set under the level and just waiting.
Focusing on the 4H, price is beginning to break market structure that signals bearish bias. I've outlined a level of significance that would trigger a bearish break of market structure. If price manages to break this level, it is showing the presence of sellers and I'll wait for a retest before executing sell orders. But for now, have my alert set under the level and just waiting.