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Chart Commentary Disclaimer: Nial’s views on the Charts is not advice or a recommendation to trade or invest, it is educational and general information only. Don’t blindly buy and sell the markets/products discussed in this newsletter, do your own research and be aware of the risks and rewards.
Bearish Fakey Signal On NZDUSD – Feb 26th, 2020
Relevant Key Levels: Resistance 0.6750 and 0.6440-70 area. Support 0.6200’s
Price Action: False break of Inside Bar creates the potential for a bearish fakey pattern that will trigger if prices break back below low of mother bar.
Current Notes: The bias is bearish whilst prices remain below 0.6440-70 area and the 0.6750 major resistance area.
Potential Trade Idea: We will consider selling after a price action sell signal (eg: fakey pattern trigger), whilst prices remain below the 0.6440-70 resistance area. Initial downside targets to 0.6200’s.
NOTE – You can trade NZDUSD via the preferred trading platform we use HERE.
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