NZDUSD: Short Trade Explained

17 nov 2020

NZDUSD is approaching a local structure high that was previously reached 12th of November.

the price has violated the support line of a rising wedge pattern once it reached the underline structure
and currently it is trading within a narrow horizontal decision range.

0.6896 - 0.6915 are the boundaries of that range.
an hourly candle close below that will be a strong bearish signal and will most likely trigger a selling reaction.
wait for a confirmed violation and sell aggressively or on a retest.

goals:
0.68715
0.685
0.682

in case of an hourly candle close above the range, the setup will be invalid.