NZDUSD Short-sorry to post twice, keeps posting to US platform!!
NZD had a great week last week as it broken resistance it had been trying to get through since the beginning of September. As we did break it, we managed to be in and out within one daily candle, with a great 60 pip gain.
As this pair is about to open on the upper trend line, I would like it to come back down to retest the lower before moving up again. I’ll be seeing how open goes but will definitely be looking to short this pair, considering we are also overbought on the RSI. Too add to the factor, we can see price had closed perfectly last week on the 0.618 fib level and hopefully we’ll use this again as resistance for some downside movement.
A retest of the resistance we just broke out of would be nice, however, a more realistic and safer option target to take would be the purple line, a couple pips away from the 0.6500 level for another 60 pip gain.
As this pair is about to open on the upper trend line, I would like it to come back down to retest the lower before moving up again. I’ll be seeing how open goes but will definitely be looking to short this pair, considering we are also overbought on the RSI. Too add to the factor, we can see price had closed perfectly last week on the 0.618 fib level and hopefully we’ll use this again as resistance for some downside movement.
A retest of the resistance we just broke out of would be nice, however, a more realistic and safer option target to take would be the purple line, a couple pips away from the 0.6500 level for another 60 pip gain.