NZDUSD SHORT MULTIPLE TIMEFRAMES
NZDUSD UPDATE
Starting on the daily, we can see we have broken on the downside of a symmetrical triangle pattern and are now retesting the support turned resistance. We can also see a down channel forming of which we are testing the could be resistance (need a solid rejection to confirm confluence)
Moving onto the hourly, we can see an up channel has formed and we are also currently sitting on the resistance line there. A drop to the channel support followed by a deadcat bounce and rejection from the mid term down channel resistance is probable from here given the US China trade news doesn't further dampen the USD
Starting on the daily, we can see we have broken on the downside of a symmetrical triangle pattern and are now retesting the support turned resistance. We can also see a down channel forming of which we are testing the could be resistance (need a solid rejection to confirm confluence)
Moving onto the hourly, we can see an up channel has formed and we are also currently sitting on the resistance line there. A drop to the channel support followed by a deadcat bounce and rejection from the mid term down channel resistance is probable from here given the US China trade news doesn't further dampen the USD
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