NZD/USD H4 | Potential bearish breakout
Updated
NZD/USD is falling towards a potential breakout level and could drop lower from here.
Sell entry is at 0.59833 which aligns with the 38.20% Fibonacci level.
Stop loss is at 0.60013 which is a level that aligns with the 23.60% Fibonacci retracement level.
Take profit 1 is at 0.59543 which is close to the 61.8% Fibonacci level. Risk/Reward Ratio: 1 : 1.61
Take profit 2 is at 0.59337 which aligns close to the 78.6% Fibonacci level. Risk/Reward Ratio: 1 : 2.76
Total risk 1.24%
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Sell entry is at 0.59833 which aligns with the 38.20% Fibonacci level.
Stop loss is at 0.60013 which is a level that aligns with the 23.60% Fibonacci retracement level.
Take profit 1 is at 0.59543 which is close to the 61.8% Fibonacci level. Risk/Reward Ratio: 1 : 1.61
Take profit 2 is at 0.59337 which aligns close to the 78.6% Fibonacci level. Risk/Reward Ratio: 1 : 2.76
Total risk 1.24%
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Order cancelled
Trade canceled. Price retraced to Stop Loss before Sell Entry hit.
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