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YourLazyTrader
Jan 12, 2020 5:59 AM

NZDUSD trading in a Bearish Channel/ Sell continuation. Short

New Zealand Dollar/U.S. DollarFXCM

Description

In the hourly chart, note that NZDUSD is moving in a bearish channel.
In addition to this, price has also been rejected by the 100H EMA.
Therefore, there is a good chance that NZDUSD will continue the downside.
We can look for Sell at (0.6635-0.6645). Traders can take profit(TP) at 0.66 or 0.6680 which happens to be the bottom of the channel.
This is a low-risk set-up and SLs can be placed at 0.6665.
Comments
habib400605
wow, thats insane
opfx_trader
Point of correction I guess you meant to say take profit at .66 or .65800......
Gold_diggerz
Great spot, lines up with daily descending the bottom 1hr TL and maybe opportunities to buy after the drop
CAMBABEBTC
bearshit continuatiin
YourLazyTrader
@testgalilo, What?
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