Alexkly
Short

NZDUSD Potential Short

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
The picture being displayed is of my analysis on a 1H time frame. You can clearly see vivid support and resistance levels. But what is most intriguing I find that if you were to take a look on the 4H time frame you'd find that in early January there was a strong level of Resistance prior to our New High. This level lingers around the .73127 which has now turned to the support level on a 4H time. Once again bringing a daily perspective you would find that there is no coincidence that the .74 level has been tested and a shift in momentum has followed. The reason being we previously tested this level and failed in early September. Now that we have an idea of why this happened we can dive a bit further into the 1H analysis. Since this pair has been in a bull market for quite some time its no surprise that we may find a correction approaching.
Although this is a conservative short, this being my first published analysis, I find that this trade has good potential and in case of a rally to the upside we are protected against it. In conclusion a good potential short for 50 pips, at a 2.83 risk/ reward ratio.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out