Strong Resistance Level @ 0.8475 - Limited Up Move due to OB

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Looking at the current NU chart, Although there are 2 Possible Pin Bars which both Rejects Both the EMAs and also rejecting the current support level at 0.8393. It seems to be possible Long Entry. But the next Resistance level is found @ level 0.8475 (this could be a possible reversal point as can see from the previous price movement). This level could be a possible chance to look for Short Entry if it holds well.

A long entry on this pair is not that not possible to have, if Monday's Bar retraces back to 50% of Retracement level of Friday's Bar, it could be a possible entry which may yield a possible of about 1:2 R:R.

Cheers! =)


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