NZDUSD: Short Trade from Resistance
The price reached 0.66500 round number and we can expect a pullback from this zone. The bearish candle tells us about the reversal. RSI confirms it in the overbought zone. MACD histogram supports the sellers. In spite of the strong bullish signal from DMI, the market is overbought. We have a possible selling opportunity.
Here is an example of a possible short trade:
Sell below 0.66450
Stop above 0.66545
Profit Target at 0.66015
Risk per trade must be no more than 1-2% from the capital.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Here is an example of a possible short trade:
Sell below 0.66450
Stop above 0.66545
Profit Target at 0.66015
Risk per trade must be no more than 1-2% from the capital.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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