NZD/USD has reintegrated back into our channel, and we’re seeing a strong drop from here to the 0.6720 level. We can see that the stochastic has reacted off the 92% resistance and has also developed a bearish divergence, which adds stronger conviction of our drop from here. Our stop loss is at 0.7400, which is fractal resistance.
Trading Recommendations:
Sell now
Stop loss at 0.7400
Take profit at 0.6960 before 0.6720
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
NZD/USD has reintegrated back into our channel, and we’re seeing a strong drop from here to the 0.6720 level. We can see that the stochastic has reacted off the 92% resistance and has also developed a bearish divergence, which adds stronger conviction of our drop from here. Our stop loss is at 0.7400, which is fractal resistance.
Trading Recommendations:
Sell now
Stop loss at 0.7400
Take profit at 0.6960 before 0.6720
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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