NZDUSD
Analysis:
- Double Bottom on 4 hr
- MACD Divergence
- Strong support on Daily
- Rejection of support
- Break of trend line and re test
Negative:
- Daily has downward momentum
- Weekly not finished forming candle and also has downward momentum
I am not going to get into this trade until I see a few other NZD pairs move and close the next 4 hour candle. This trade has good potential with 2:1 or maybe a 3:1.
- Double Bottom on 4 hr
- MACD Divergence
- Strong support on Daily
- Rejection of support
- Break of trend line and re test
Negative:
- Daily has downward momentum
- Weekly not finished forming candle and also has downward momentum
I am not going to get into this trade until I see a few other NZD pairs move and close the next 4 hour candle. This trade has good potential with 2:1 or maybe a 3:1.
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