What this looks like to me is a great opportunity for a short trend continuation trade. There is strong RSI bearish divergence and the bullish trend is looking as if it has broke with that lower high.
How I would to trade this
1) Look for a small rally between the .618 and then look for that rally to reverse at the .382. I would enter short there.
2) Look for the 1.618 for the target.
3) The short position will be invalid if NZD/USD rallys past 0.66
How I would to trade this
1) Look for a small rally between the .618 and then look for that rally to reverse at the .382. I would enter short there.
2) Look for the 1.618 for the target.
3) The short position will be invalid if NZD/USD rallys past 0.66
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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.
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.