NZDUSD 30min Analysis February 22nd, 2021
Price is currently consolidating at our supply zone. We previously had a strong rejection at this zone so we will take longs cautiously.
Trade Scenario 1: Bullish - For us to go long we want to see price find support at our structure zone of .7310. We will then look to enter long on strong bullish setups off this zone, first targeting key weekly at .7350
Trade Scenario 2: Bearish - For us to go short we need to see price fall below our key structure zone. We will then wait for a retrace and for .7310 to flip as resistance once again.
Trade Scenario 1: Bullish - For us to go long we want to see price find support at our structure zone of .7310. We will then look to enter long on strong bullish setups off this zone, first targeting key weekly at .7350
Trade Scenario 2: Bearish - For us to go short we need to see price fall below our key structure zone. We will then wait for a retrace and for .7310 to flip as resistance once again.