Nzdusdsell
#NZDUSD, Time to sellThe nzdusd after rising 500 pips from $ 0.62 to $ 0.67 is stopped at the moving average 100 line used as a resistance line.
The NZDUSD weekly graph is still in decline.
The Stochastic signals Overbought with a chance to change the current (rising) trend.
Because of our proximity to the resistance line, it makes the signal more secure
Target: 0.6560
NZDUSD trading in a Bearish Channel/ Sell continuation.In the hourly chart, note that NZDUSD is moving in a bearish channel.
In addition to this, price has also been rejected by the 100H EMA.
Therefore, there is a good chance that NZDUSD will continue the downside.
We can look for Sell at (0.6635-0.6645). Traders can take profit(TP) at 0.66 or 0.6680 which happens to be the bottom of the channel.
This is a low-risk set-up and SLs can be placed at 0.6665.
NZDUSD approaching support, potential for a bounce!
NZDUSD is expected to drop to 1st support at 0.65941 where it could potentially react off and up to 1st resistance at 0.66267.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.