NZDUSD Timeframe: 1D
Direction: Short
Confluences for Trade:
- Price Action at 38% of Fibo levels
- Price action at a Horizontal Trendline (Resistance)
- It needs alot of positive fundamentals to push the NZD up further for now
- Pair recently broke out from a triangle, likely to retrace and test back the triangle support
- Stochastic Overbought momentum (D1, H4 and H1)
Please note that this idea is a short term trade.
Suggested Trade:
Entry @ Area of Interest 0.6750 - 0.6810
SL: 0.6867
TP: 0.6605
RR: Approx. 2.02 (Depending on Entry Level)
May the pips move in our favor! Good luck! :D
*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.
Trade active
Trade closed manually
Will reassess first before moving again.
Disclaimer: The personal opinion above does not constitute as an investment advice. Any trade decisions taken based on the above opinion is purely at your own risks. DYOR.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer: The personal opinion above does not constitute as an investment advice. Any trade decisions taken based on the above opinion is purely at your own risks. DYOR.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.