Hey guys, i'm paying attention to NZDUSD this morning since it presents a good opportunity to short with the proper signal. Price is up to retest a daily structure level and is finding some troubles breaking through. The Rsi divergence also confirms our view: as we go down on lower timeframes such as 4h you can see the recent upmove tried to break the recent highs without being able to close above that 4hr resistance. In fact, the selling pressure shown with the long wick tells us that bears are coming and that we need to be careful. Let's see the next candle and then i'll decide. I'll keep you updated, as always.
If you have ideas or comments, feel free to write below. Otherwise, see you in the next chart!
Comment
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Nice engulfing candle, but let's wait one hour and see how price will react to news release. Ideal entry point is around 0,7310
I had to cut my losses with the NZD, been losing money with this pair for weeks...this bullish trend is incredible.... even with terrible data released yesterday the kiwi still maintains to move up.
Glendoonie
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@ikecant, NZD seems to go from strength; the farmers hate that!
Glendoonie
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@Glendooie, Strength to strength. Neever mind no one local can afford to buy a house or rent one even.
NateTheGreat7
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Are you concerned about the CB Consumer Confidence (USD) news being released in the next hour or so?
Roker1
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@NateTheGreat7, i'm waiting to see how price will react, then i will decice whether to place my order or not.