ForexPlug
Short

NZDUSD - Appears a Golden Short Opportunity

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
NZDUSD             , has created many signals for a bearish continuation.
RBNZ is hinting for a rate cut in August and further ease will be negative for NZD.
Technicals suggest Head&Shoulders pattern in formation.
Bearish RSI Divergence in Existence now.
We are looking at 0.6750 Zone as 1st Target with open target at 0.6550

Having short the pair at 0.7185 and 0.7205 -

sorry , but nu is very bullish , every try for short could be very risky . Like you see the market retest several times its support , the red line

So the best we can do is to go long from 0.7115 or near , if we have that chance

Reply
The red line is indication of NECKLINE. Until we do not cross above 0.7350 zone - it is not bullish yet.
Please check the Close of 4 Hour Candle as well which is Shooting Star - An important Bearish Sign.
OverBought Conditions
Bearish Divergence
RBNZ hinting of further easing and wants NZD weak.

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stream ForexPlug
right , you are right , nu has no support for up so the way down is open
Reply
Thanks my friend.
High chances for downside, let us see how it goes this week.
OIL is turning down, which is another bearish hand to the NZD.
If Equities fall, this will drop NZD too.
Reply
stream ForexPlug
sure . Very good trade coming for the next 5-6 month
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