NZDUSD Is On The Way Of Strong Down Trend

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
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NZD is loosing strength over USD as the other currencies. There is a strong downtrend on 4H chart and now price is around near the important resistence.

Both 2 vertical line examples are overbough areas regarding to RSI and Stochastic . This strategy can mostly useful for this pair nowadays. Last red candle is confirmation for downside movement predictions.

Short Position

Stop Loss: 0,8490

Target: 0,84274
Possible.. but.. keep watching... Price is trying to back move above Major Trend (Weeks)