My nzdusd setup

2020년 12월 13일

Weekly has formed an overextended W structure. This pair is in real need for a retracement as it is overextended on weekly and daily timeframes.

The only issue we have right now is that the market is supported by 2 trendlines. Plus we have a daily horizontal resistance on 0.701 area. Once those supports are broken. We might retest the previous monthly resistance area that is now turned support on 0.69ish levels