Momentum meter showing NZD having superior strength, looks like there will be a little more squeeze. RSI heavily overbought, traders should wait for a rejection off resistance/50% fibs and confirmation before taking trade. AUD looks to be gaining strength but could die off quicker than NZD so is VERY IMPORTANT to wait for rejection. NZD has been in a downward trend recently, we're looking for a failed breakout of the 200EMA effectively.
R:R 1:4
Risk Allocation: 0.5%
GL
R:R 1:4
Risk Allocation: 0.5%
GL
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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.