U.S. Dollar / New Zealand Dollar forum
NZDUSD there are 2 scenarios with this trade, chart is self explanatory, you may check detail on my profile.
NZDUSD pair is currently going down, so it's best not to trade against this trend.There are two possible situations to watch for:
Scenario 1: Wait for the price to rise above 0.589, then fall back below it. This shows that stop losses have been triggered, and it’s a good point to sell towards the next level at 0.58649.
Scenario 2: If the price drops below the midrange, some traders might start selling because they expect it to keep going down. Wait for the price to rise above the midrange, triggering their stop losses, and then fall back below it. This would be a good time to sell.
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