NZDUSD Price Action} Swing High| Local S/R| Volume

9 feb 2021

Evening Traders,

Todays analysis – NZDUSD- trading at a key location where an expansion is probable,

Points to consider,
- Local S/R Support
- Swing High Objective
- 200 MA S/R
- Oscillators Bullish Control
- Declining Volume

NZDUSD’s immediate price action is impulsive, trading at local S/R that has technical confluence with the .382 Fibonacci.

The 200 MA S/R is current dynamic resistance that is has a high probability of being respected.

Immediate volume profile is trading with declining volume, an influx is highly probable when testing key trade locations.

Overall, in my opinion, NZDUSD is a valid long with defined risk, price action is to be used upon discretion/ management.

Hope this analysis helps

Thank you for following my work

And remember,

“Focus, patience, wise discernment, non-attachment —the skills you acquire in meditation and the skills you need to thrive in trading are one and the same.”
― Yvan Byeajee