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Jamal92
Jul 9, 2017 2:38 PM

Selling Position - NZD/USD Short

NEW ZEALAND DOLLAR / U.S. DOLLARICE

Description

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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