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Title
NZDUSD Potential for bearish drop to previous swing low
Type
Bearish Reversal
Preference:
Looking at the H4 chart, my overall bias for NZDUSD is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market.
Expecting price to drop from the pivot which is the overlap resistance level towards the support which is the previous swing low.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.