In the weekly chart, NZD/USD is unable to break the 100week Exponential Moving Average.
The down trend line is also stopping the Bulls from pushing the price higher.
It looks like the bears will step in very soon and push the price lower. Selling between 0.6460-.6580 is a good idea with initial target at 0.6150.
SL can be placed above the resistance area.
The down trend line is also stopping the Bulls from pushing the price higher.
It looks like the bears will step in very soon and push the price lower. Selling between 0.6460-.6580 is a good idea with initial target at 0.6150.
SL can be placed above the resistance area.
Note
Short trade developing nicely
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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.