Selling Position - NZD/USD
NZD/USD has rallied by more then 4/5% since May without a pullback. The signs I see is that a divergence has formed on the RSI and the stochastic indicating that its overbought on the weekly (You can see whenever the stochastic hits overbought levels there is a drop) and lastly it has broken through the more then 1 month old trend line and also struggled to breakthrough the resistance trend line which whenever it got tested it has dropped which you can see that a bearish candle has formed when it couldn't breakthrough.
With all of these signs I feel that its a SELL.
With all of these signs I feel that its a SELL.
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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.