Today we take a look at NZDUSD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price is holding below descending trendline and moving average resistances, in line with our bearish bias. We could see price drop further below our sell entry level, in line with 50% Fibonacci retracement, and approach take profit levels, in line with horizontal swing low support and -27.2% Fibonacci retracement.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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