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Nzduusd

NZDUSD WAITING LONDON SESSIONOn NZDUSD, we have a point of interest at the level of 0.6170 where the price has formed a breaker block and a poi (point of inefficiency). In the case of the breaker block, I am waiting for confirmation for a short entry during the London session. In the case of the poi, I am waiting for a retracement that is confirmed by volume to go long with the objective of recovering all the inefficiency created by the market after the US news yesterday. It would be fantastic if you could share your opinion. Greetings and have a great day of trading from Nicola, CEO of Forex48 Trading Academy.
Long
by Forex48_TradingAcademy
2
NZDUSD appears oversold SELL 0.66494 - 0.66728 Add to Watch List Signal ID: 72638 Time Issued: Wednesday, 22 July 2020 07:00:16 GMT Status: open Entry: 0.66494 - 0.66728 Limit: N/A Stop Loss: 0.67081 The Congestion Opportunities Strategy has just sold NZDUSD at 0.66611. The system recommends entering this trade at any price between 0.66494 and 0.66728. The signal was issued because the 28-hour Relative Strength Index indicates that the NZDUSD may be oversold, while the Speculative Sentiment Index reading of -1.16718 indicates that trader sentiment is not at extremes.The 14-period Average True Range on a daily chart is 0.0047, so the stop loss has been set at 0.67081. This stop loss order is a trailing stop that will move down as the market moves down. There is no profit target for this strategy. We expect to be closed by the stop loss.Congestion Opportunities is a range trading strategy that aims to sell overbought currency pairs and to buy oversold currency pairs. The strategy will only trade when the Speculative Sentiment Index for that currency pair is between -1.5 and +1.5. Limiting range trading in this way has shown in the past to significantly raise the probability of successful range trades.
Short
by FXCM