NZDUSD - Watch For This Drop!

2 nov 2022

With FED raising interest rates by another 75 basis points, it will inevitably strengthen the dollar. We can use this correlation to short NZDUSD.

Expecting price to stay below the blue structure. We appear to be rejecting the 618 fib.

Trade Idea:
- For safe entry, watch for break of the red trend line
- For risk entry, watch for a rejection of the 618 fib
- stops should be above blue structure
- Targets: 0.555 (380pips), 0.54 (520pips), 0.52 (740pips)

Goodluck and as always, trade safe!

NZDUSD Daily:

2 nov 2022

Nota

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