Jamal92

Selling Position - NZD/USD

Short
FX_IDC:NZDUSD   New Zealand Dollar / U.S. Dollar
NZD/USD has rallied by more then 4/5% since May without a pullback. The signs I see is that a divergence has formed on the RSI and the stochastic indicating that its overbought on the weekly (You can see whenever the stochastic hits overbought levels there is a drop) and lastly it has broken through the more then 1 month old trend line and also struggled to breakthrough the resistance trend line which whenever it got tested it has dropped which you can see that a bearish candle has formed when it couldn't breakthrough.

With all of these signs I feel that its a SELL.

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