POSSIBLE SHORT TRADE IDEA

NZDUSD DAILY

MARKET IS SIDEWAYS, HOWEVER 21 ABOVE THE 55 INDICATES BULLISHNESS. PRICE IS JUST BELOW MM4 RESISTANCE PIVOT. FURTHER RESISTANCE IDENTIFIED AT MR2. STOCHASTICS IS OVERBOUGHT. TOP OF THE RANGE SO BEARS MIGHT LOOK TO SELL AT RESISTANCE.

NZDUSD H4

MARKET IS BULLISH, 21 ABOVE THE 55. PRICE IS BULLISH, 5 ABOVE THE 8. RESISTANCE IDENTIFIED AT WM3. PIVOT POINT THEORY PREDICTS WM3 TARGET FOR BEARS IS WM1. STOCHASTICS IS OVERBOUGHT. SUPPORT LEVELS HIGHLIGHTED IN GREEN.

2 thoughts on “NZDUSD SHORT TECHNICAL ANALYSIS, 24 JULY 2017”

  1. Giveness Tshiimomo says:

    nice plan for a bear. price hasnt been this high since last year September and we have reached the monthly profit target for bulls. maybe we see some profit taking from US dollar bears and dollar bulls getting in expecting good news from FOMC this week

    1. Pedro says:

      you read my mind, if we get a hawkish tone from the FED than dollar bulls will definitely short this pair.

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