TradingView
FlowState
Apr 11, 2019 9:43 AM

Short NZDUSD approaching resistance, potential drop! Short

New Zealand Dollar/U.S. DollarFXCM

Description

NZDUSD is approaching our first resistance at 0.67799 (horizontal pullback resistance, 76.4% Fibonacci retracement , 61.8% Fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 0.6741 (61.8% Fibonacci retracement , horizontal swing low support).
Stochastic (21,5,3) is also approaching resistance and seeing a bearish divergence where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Comments
IgorPorokh
@GlobalPrime Buddy cool strategy. I think everything will work out. I will follow you, interesting how it will end
More