Hi Traders! We have NZDUSD sell opportunity after pullbacks. A detailed analysis of this bearish setup is as follows:
NZDUSD D1 Chart:
On the daily chart the price has created a bearish divergence which we may consider as evidence of bearish pressure. Hence we may now look for more evidences of bearish pressure on lower timeframes in order to join the bears.
NZDUSD H1 Chart:
On the H1 chart the price is currently moving lower, we may now expect one more push lower from the current zone (completing the cycle) and then deeper pullbacks to happen. Once the pullback completes itself we may then start looking for sells with more bearish evidences.
Note: It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this sell setup then you can use any setup and strategy that you have in your arsenal to look for bearish moves and join this sell trade.
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