NZD-USD BEARISH BAT FORMATION (SELL OPPORTUNITY)
NZD-USD IS TRADING AT HIGHEST OF YEAR 2020. AUD & NZD HAS BEEN STRONGEST SINCE MARCH-2020 AMID BROAD US DOLLAR WEAKNESS. STILL NZD-USD IS NOT SHOWING ANY SIGN OF WEAKNESS. ON DAILY CHART.
PAIR HAS BEEN APPROACHING HIGHS OF 2020 BUT PACE OF BULLS IS GRADUALLY REDUCING AFTER EACH SWING HIGHER. ON H-4 CHART PAIR HAS FORMED BEARISH BAT FORMATION WHICH COMPLETED AT 0.6768.
CURRENTLY IT IS TRADING ABOVE SELL PRICE OF BEARISH BAT FORMATION, WHICH GIVES BETTER RISK REWARD OPPORTUNITY.
SELL ENTRY: 0.6768
STOP LOSS: 0.6813
TARGET-1: 0.6722
TARGET-2: 0.6675
PAIR HAS BEEN APPROACHING HIGHS OF 2020 BUT PACE OF BULLS IS GRADUALLY REDUCING AFTER EACH SWING HIGHER. ON H-4 CHART PAIR HAS FORMED BEARISH BAT FORMATION WHICH COMPLETED AT 0.6768.
CURRENTLY IT IS TRADING ABOVE SELL PRICE OF BEARISH BAT FORMATION, WHICH GIVES BETTER RISK REWARD OPPORTUNITY.
SELL ENTRY: 0.6768
STOP LOSS: 0.6813
TARGET-1: 0.6722
TARGET-2: 0.6675
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