NZDUSD was in a Bull Trap after breaking the ๐Ÿ”ดresistance zone๐Ÿ”ด

It seems that NZDUSD will not succeed in breaking the ๐Ÿ”ดresistance zone($0.6250-$0.606)๐Ÿ”ด, and this failure plays the role of a fake break or bull trap.

If we look at NZDUSD from the theory of Elliott waves, NZDUSD is moving in a descending channel, which can complete the correction structure ABC, which is zigzag(5-3-5); I expect wave C of the correction structure to finish in ๐ŸŸกPrice Reversal Zone(PRZ)๐ŸŸก.

๐Ÿ”…New Zealand Dollar/U.S.Dollar Analyze ( NZDUSD ), Daily Time frame โฐ.

Do not forget to put Stop loss for your positions (For every position you want to open).

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