Two great sell opportunities on this chart for NZDUSD

3 בספט׳ 2020

Mid-term Forecast:

Trading suggestion:
". There is still a possibility of temporary retracement to suggested resistance line (0.6791).
if so, traders can set orders based on Price Action and expect to reach short-term targets."

Technical analysis:
. NZDUSD is in an uptrend and the beginning of downtrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 61.

Take Profits:
TP1= @ 0.6585
TP2= @ 0.6501
TP3= @ 0.6383
TP4= @ 0.6166
TP5= @ 0.5920

SL: Break Above 0.6791

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Intraday Forecast:

Trading suggestion:
". There is still a possibility of temporary retracement to suggested resistance line (0.6754).
if so, traders can set orders based on Price Action and expect to reach short-term targets."

Technical analysis:
. NZDUSD is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 33.

Take Profits:
TP1= @ 0.6713
TP2= @ 0.6689
TP3= @ 0.6655
TP4= @ 0.6622
TP5= @ 0.6585

SL: Break Above 0.6779

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