NZDUSD
NZDUSD closed @ 8090 which was BELOW the open and was within prior day’s trading range. The High was 20 pips from Precise Trader’s Res Zone 1 and the Low was 10 pips from Precise Trader’s Sup Tgt 1.
The Hourly Oscillators are Bearish and the Price is Within the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways while 8200 holds and Daily Trend is also Sideways while 7890 holds, so expect the price to be Choppy until Breakout.
The Daily Closed well below the Open but was within the Range. The Patterns are suggesting lower lows but Cautious approach is needed. The Hourly looks like we may see 8010/7960 levels and the Bears must protect the 8135-65 levels at all times. The 15min is suggesting that we may see a breakout lower soon. The Opening Price Principle suggests that 8135 is a critical level for the Bears but Cautious approach is needed until the Price breaks out of Zone 2 levels .
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