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Sunday, August 22, 2021

NZDUSD Analysis August 22, 2021

NZDUSD Analysis August 22, 2021

NZDUSD: On the weekly timeframe I am noticing that price is testing a significant level of support but is showing a lot of bearish pressure. Last week closed with a bearish candle closing with a lot of volume for the week.

snapshot
On the H4timeframe we are clearly in a large all of and price is continuing to make LL’s. We have yet to make a LH point since price has barely pulled back since falling from 0.80200 level price is starting to form a rectangle pattern which means we could have more downward movement. I will be looking to take short opportunities once price breaks the lower support level . I will only take buys if it comes above the weekly resistance zone and makes a HL.
snapshot



from TradingView Ideas https://ift.tt/3mpoTqU
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