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MEX_Exchange

NZDUSD approaching selling area, remain bearish

Short
New Zealand Dollar / U.S. Dollar (FX:NZDUSD)  
MEX_Exchange  
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns NZDUSD NZD USD nzdusdshort nzdusdlong nzdusdtrade nzdusddaily Forex forextrading
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trendanalysis harmonicpatterns chartpattern nzdusd nzd usd nzdusdshort nzdusdlong nzdusdtrade nzdusddaily forex forextrading

Sell below 0.7244. Stop loss at 0.7300. Take profit at 0.7178.
Reason for the trading strategy (technically):
Price is once again rising and reaching our selling area. We prepare to sell below major resistance at 0.7244 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension) for a push down to at least 0.7178 support (Fibonacci extension, horizontal swing low support) once again.
Stochastic (21,3,1) is seeing strong resistance at 95% where we expect a drop from.
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