Raz1
Short

NZDUSD Flag Pattern and Stochastic Overlap?

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
117 2 5
NZDUSD             has formed a flag formation on the 1 hour chart timeframe. Monday 25th July 11:45pm GMT             time there will be news about New Zealand's overseas merchandise trade; having medium impact but not expecting it to affect the currency.

The stochastic indicator is yet to go up but once the two moving averages are in the overbought zone and crossover, it'll be a good time to short NZDUSD             , assuming it goes this way.

Trade closed: target reached
i am really thinking the entries short is higher than that .
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Raz1 stream
I have added a fib retracement over the most recent swing high and low, I reckon it'll hit 61.8 before bouncing down. You can wait for a breakout of the flag pattern position or short after a bounce and find more bearish confirmation.

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