NZDUSD (1D): Short Term Retracement Trade
Updated
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 decisions taken based on the above opinion is purely at your own risks. DYOR.
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