Weekly Price Action Setups & Key Levels | Oct 1-6

nzdusd false break setup 2ndskiesforex

My Current Active Open Trades: EURNZD, CHFJPY, AX_UN, FTS, TRP, XHB, REMX, CSE, FXo EURJPY, FXo EURPLN

NZDUSD – MT Corrective Structure Within Large Balancing Zone (4 hour chart)
In our market commentary in late Sept., we mentioned that a false break of 0.7330 was one of the potential trade setups for the NZDUSD. After price closed back below 0.7330, we saw a quick re-test of the level and then a bearish continuation to 0.7200 as we suggested.

Congratulations to the members who managed to grab this good trade.

Considering the selling strength and impulsive/corrective move down from 0.7330, ST, the bears seem to be in control and it’s very likely IMO that we’ll see at least a move down …

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