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Filipo1
Aug 10, 2020 8:54 AM

Short with tight hedge stop-buy. Short

New Zealand Dollar/Japanese YenFXCM

Description

The pair is sitting on a support/resistance line so better setting up a tight hedge with a stop-buy in case. Price action closed well below the Bollinger middle band on Friday with a bearish engulfing candlestick. The bearish divergence with RSI is adding to the downside view. If that materializes I plan to add another position when crossing below next Fibo under under 68.
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