#NZDUSD Forecast: Approaching Hot Resistance! #forex
NZDUSD Short term forecast and technical analysis
The pair has been pulling back higher within the past days, where price managed to take 0.7485 horizontal resistance level, completing a retest to it and heading higher again, and thus we might move slightly higher towards the next major daily potential resistance level at 0.7620. 0.7620 is a previous key low (seen on the daily chart).
The 50-days SMA is also around the same area.
I would look to short the pair near that area, a nice confirming bearish candle could be a good trigger, targeting initially 0.7485. stop loss could be at 0.7700
Please feel free to provide you take, do you see other technical view? what harmonics and elliott wave are saying?
Waiting for your contribution.. Thanks
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Technician
The pair has been pulling back higher within the past days, where price managed to take 0.7485 horizontal resistance level, completing a retest to it and heading higher again, and thus we might move slightly higher towards the next major daily potential resistance level at 0.7620. 0.7620 is a previous key low (seen on the daily chart).
The 50-days SMA is also around the same area.
I would look to short the pair near that area, a nice confirming bearish candle could be a good trigger, targeting initially 0.7485. stop loss could be at 0.7700
Please feel free to provide you take, do you see other technical view? what harmonics and elliott wave are saying?
Waiting for your contribution.. Thanks
------------------------------------------------------------------------------------------------------------------------------------------------------------
Be one of the first members of my new trading portal, check my new website thefxchannel.com/ , vote and subscribe. Thank you
Good luck, keep your stops tight..
twitter.com/thefxchannel
www.facebook.com/thefxchannel
plus.google.com/+Thefxchannel0
My best regards
Technician
