NZDUSD: Expecting downtrend continuation
It looks like NZDUSD-1.49% will resume the bearish trend right away.
The confirmation for this setup would be to see a sharp decline, reaching 0,60135 before March 2nd ideally.
We could preemtively enter shorts at market and use a stop at 0.68286 initially, and add to the trade as it progresses.
The potential decline ahead is rather large, and when we apply an 'expanding triangle' look to is, it would appear like we can expect a 2x range decline in this pair.
Rgmov is bearish and the price action highly suggestive.
Good luck!
Ivan Labrie.
The confirmation for this setup would be to see a sharp decline, reaching 0,60135 before March 2nd ideally.
We could preemtively enter shorts at market and use a stop at 0.68286 initially, and add to the trade as it progresses.
The potential decline ahead is rather large, and when we apply an 'expanding triangle' look to is, it would appear like we can expect a 2x range decline in this pair.
Rgmov is bearish and the price action highly suggestive.
Good luck!
Ivan Labrie.
Comment:
I'm out of this position for now.
