We see a 'Bullish Cypher' formation on NZD/USD 4H charts; with 0.6615 - Potential Reversal Zone.
The MACD line crossed below its signal line on a 4-hour closing basis, suggests downside vulnerability ahead.
Potential Risk: FOMC meet due 19 GMT
Trade Idea: Short
Enrty: 0.6765/70
SL: 0.68
TP: 0.67
Short term strategy: Long
Entry: 0.6615/75
SL: 0.6570
TP1: 0.6695
TP2: 0.6744
TP3: 0.6775
The MACD line crossed below its signal line on a 4-hour closing basis, suggests downside vulnerability ahead.
Potential Risk: FOMC meet due 19 GMT
Trade Idea: Short
Enrty: 0.6765/70
SL: 0.68
TP: 0.67
Short term strategy: Long
Entry: 0.6615/75
SL: 0.6570
TP1: 0.6695
TP2: 0.6744
TP3: 0.6775