NZD/USD Short - Bearish divergence
Updated
NZD/USD SELL,
Sentimental:
The support zone that I was following for higher-low support came into play early this week. Bulls came in and have remained in control ever since. Buying at this point does not seem prudent as the pair is now at fresh five-month-highs, and a pullback can be in order for bullish strategies. A prior target level around .6819 could be helpful for such an approach. This can be connected down to the swing-low around .6795 to create a support zone to follow.
Technicals:
Bearish divergence on the 4H time frame you can see that NZD/USD allready had some bearish divergence inbetween 22 october till the 26 of october. ( 90 pip swing trade)
Fundamentals:
Kiwi News forecasting some bearish econimic numbers. Dollar stronger than New zeeland but not strong enough.
Sentimental:
The support zone that I was following for higher-low support came into play early this week. Bulls came in and have remained in control ever since. Buying at this point does not seem prudent as the pair is now at fresh five-month-highs, and a pullback can be in order for bullish strategies. A prior target level around .6819 could be helpful for such an approach. This can be connected down to the swing-low around .6795 to create a support zone to follow.
Technicals:
Bearish divergence on the 4H time frame you can see that NZD/USD allready had some bearish divergence inbetween 22 october till the 26 of october. ( 90 pip swing trade)
Fundamentals:
Kiwi News forecasting some bearish econimic numbers. Dollar stronger than New zeeland but not strong enough.
Trade active
SL in proift, let it ride. you could take some profitsNote
SL hit , but it was in profit and i took the half of my position allready.
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