NZDUSD H4: The bears steering down...

6 วันที่ผ่านมา

NZDUSD H4: The position of the price in relation to the EMAs and to the TL confirms a bearish trend. While the price stays below the TL and the EMAs any short position is in the table. The Support at 0.55814 has been tested and the price had been above that since October 2022 what could give 2 options: another rejection level that may will have a short life(due the TL pattern) or will be break pushing the price further down. In that case a confirmation on that break is a must before any short entries. The RSI hovering around 45 may will test the 50 but with expectations of heading to an oversold level. The candles around the Support suggesting indecisions may represents the bears are preparing for a continuation but we have to wait. For any short entry around the support level will be wise to go for a tight SL so any weird volatility will not take much of our money.