Taking this continuation short after this pullback, already a few positions short. Price broke free of the 4hr trendline yesterday. This pullback was not too strong, so I will endeavor to make this position risk free as soon as I can!
NZD/USD delayed post.
NZD/USD selling pressure may reach 0.65800
Bearish momentum may fall to 0.65038
Resistance Levels: 0.66466, 0.66752, 0.66984
Support Levels: 0.66001, 0.65800, 0.65038
Possible good entry:
Entry price: 0.66400
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On the daily time frame NZDUSD has reached a nice resistance. The indicators also have seemed to reach their top and are running out of steam reversing back down for a next bearish wave.
How ever its all still fresh.
If youre an early bird you could sell NZDUSD now with a 70 pip stop loss and target 0.7025
If you prefer less risk then wait for the next daily...
NZDUSD has a nice upper range break-out on the 4 hour time frame. The next 2 resistances are around 25 and 90 pips from current market price. Targeting those will give some nice profit.
NZDUSD is approaching a resistance but it's also still close to the upper range. Best thing to do is to have some patience and wait for one of them to break out. Then trade it in that direction.
Indicators are bearish with ADX red line about to crossover the green line and Stoch is also making a bearish crossover. If you lack patience like I do you could already...