NZDUSD COULD BE A GOOD SELL BUT...

15 aug. 2023Hey Traders!

I am directing attention to a potential opportunity with NZDUSD, given its prevailing strong bearish sentiment. Our analysis has identified a rising wedge on the hourly chart that has recently been breached, offering a signal for a prospective downward trade. Notably, higher timeframes are also demonstrating a double top and a rising wedge formation, affirming the bearish perspective.

Considering these price action patterns have yet to reach their target levels, we have strong grounds to anticipate a continuation of this trend.

Please Be Aware: Significant news releases are scheduled for tonight, which include:

NZD: Monetary Policy Statement
NZD: RBNZ Interest Rate Decision
NZD: RBNZ Rate Statement
NZD: RBNZ Press Conference

Please approach this trade with caution, keeping the potential market volatility in mind.