NZDUSD Short Position (1Hr Timeframe)
• Weekly- bearish engulfing candle which could see bearish week
- Worth noting MA cross over in weekly
• Daily- breakout from rising wedge however potentially see a potential ABCD pattern formation
- MACD crossover signalling bearish move
• 4 Hour- missed short opportunity due to NFP however looking to short pullback however be wary of both spinning tops so best to wait for market opening to see how pair moves
• Hourly – MA about to crossover and will look to short once pullback is broken
• Verdict – will look to short once pullback is broken. This a particularly a shorter term trade so not considering this weeks fundamentals
- Worth noting MA cross over in weekly
• Daily- breakout from rising wedge however potentially see a potential ABCD pattern formation
- MACD crossover signalling bearish move
• 4 Hour- missed short opportunity due to NFP however looking to short pullback however be wary of both spinning tops so best to wait for market opening to see how pair moves
• Hourly – MA about to crossover and will look to short once pullback is broken
• Verdict – will look to short once pullback is broken. This a particularly a shorter term trade so not considering this weeks fundamentals
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