NZD/USD has broken major support, prepare to sell - Forex247

Latest

Keep Your Trading Simple and Smart

Wednesday, August 16, 2017

NZD/USD has broken major support, prepare to sell

The price has broken our major support-turned-resistance level at 0.7258 and we prepare to sell below this resistance level (Fibonacci retracement, horizontal pullback resistance) for a further push down following our bearish channel momentum to at least 0.7196 (Fibonacci extension, horizontal swing low support).

RSI (21) sees resistance at 63% and also a recent bearish exit signaling that we're expecting more bearish momentum.

Sell below 0.7258. Stop loss is at 0.7286. Take profit is at 0.7196.

analytics5993a6e2692c9.png

The material has been provided by InstaForex Company - www.instaforex.com


No comments:

Post a Comment