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ForecastCity
May 4, 2020 11:59 AM

Don't miss the great sell opportunity in NZDUSD Short

New Zealand Dollar/U.S. DollarFXCM

Description

Trading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (0.6075). if so, traders can set orders based on Price Action and expect to reach short-term targets.

Technical analysis:
. NZDUSD is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 45.

Take Profits:
TP1= @ 0.5975
TP2= @ 0.5910
TP3= @ 0.5850

SL: Break Above R2
Comments
Mehmetozdemi
Absolutely amazing you guys are doing great job, thank you very much for your analysis!
ForecastCity
@Mehmetozdemi, You're welcome. 🙏
Do you have any idea about this pair?
Shiva_forex
nice chart and Analysis
ForecastCity
@Shiva_forex, You're welcome. 🙏 we are glad you enjoyed it.
sara-kian-fx
nice chart and Analysis
ForecastCity
@sara-kian, Thanks for your comment 🙏
glenrifumo
So we use 15m or 1h chart
ForecastCity
@glenrifumo, It's H4.
FlyToSky1
Good ideas
ForecastCity
@FlyToSky1, Thanks , we hope you enjoy it. 🙏
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