NZD/USD
Strategy: Pending Short
NZDUSD has put in an Inverted Hammer candlestick at key resistance market by the intersection of a rising support-turned-resistance pivot line and the upper boundary of a falling channel established from the swing top in October. While the setup is strongly indicative of a bearish reversal, a Hammer requires confirmation on a bearish close for the current candle to be considered a valid signal. To that effect, we will remain flat for now but stand ready to enter short in the near term.
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