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Potential Trade Idea: I’m Selling NZDUSD After Inside Bar Pattern Breaks Down – July 10th, 2019
Relevant Key Levels: Resistance 0.6720, 0.6850 and 0.6970. Support 0.6500 and 0.6560
Price Action: The inside bar that had formed early in the week is now in the process of breaking down. Price has collapsed after retesting the 0.6720 major resistance (also a prior event area where price collapsed lower).
Current Notes: Prices are likely to collapse back to recent lows at 0.6490 and potentially lower if we break that level. The bias is still bearish whilst price holds below the 0.6720 and 0.6930 resistance levels.
Potential Trade Idea: We would continue to consider selling the break down from the Inside Bar pattern, targeting a move back to 0.6490 and potentially lower.
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