NZDUSD Approaching Resistance, Prepare For Reversal
Sell below 0.6717.
Stop loss at 0.6765.
Take profit at 0.6635.
Reason for the trading strategy (technically):
NZDUSD is approaching its resistance at 0.6717 (100% Fibonacci extension, 38.2%, 61.8%, 23.6% Fibonacci retracement, horizontal overlap resistance) where a reversal to its support at 0.6635 (38.2% Fibonacci retracement, horizontal overlap support) is expected.
Stochastic (89, 5, 3) is approaching its resistance at 98% where a corresponding drop is expected.
Stop loss at 0.6765.
Take profit at 0.6635.
Reason for the trading strategy (technically):
NZDUSD is approaching its resistance at 0.6717 (100% Fibonacci extension, 38.2%, 61.8%, 23.6% Fibonacci retracement, horizontal overlap resistance) where a reversal to its support at 0.6635 (38.2% Fibonacci retracement, horizontal overlap support) is expected.
Stochastic (89, 5, 3) is approaching its resistance at 98% where a corresponding drop is expected.
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.
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.