USDNZD sell setup.
Updated
Hi traders,
USDNZD looks good for a sell setup. I am expecting a nice move to the downside. Use your tested trading strategy to determine the best buy and sell levels.
There's a few ways this trade could play out, and how you play it entirely depends on your trading strategy and risk tolerance. I am expecting a bounce at the sidewards support level before a breakdown commences. Alternatively, it could break the sideways support, and retest the sidewards support as resistance before the break down takes place.
Best regards,
Tom_Killick
USDNZD looks good for a sell setup. I am expecting a nice move to the downside. Use your tested trading strategy to determine the best buy and sell levels.
There's a few ways this trade could play out, and how you play it entirely depends on your trading strategy and risk tolerance. I am expecting a bounce at the sidewards support level before a breakdown commences. Alternatively, it could break the sideways support, and retest the sidewards support as resistance before the break down takes place.
Best regards,
Tom_Killick
Note
Price bounced off sideway support, and is nearing the horizontal resistance zone. Will price bounce off horizontal resistance zone and break down? Or will price carry onto the highs? I guess we will soon all find out.
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