NZD/USD testing resistance, prepare to sell for a corrective drop
July 21, 2017 2:04 am
The price has risen strongly yesterday. We prepare to sell below 0.7413 resistance (Fibonacci extension, Elliott wave theory, bearish price action) for a push down to at least 0.7334 support (Fibonacci retracement, horizontal swing low support).
Stochastic (34,5,3) is reversing nicely from our 94% resistance with good downside potential to play the drop.
Sell below 0.7413. Stop loss is at 0.7437. Take profit is at 0.7334.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
The price has risen strongly yesterday. We prepare to sell below 0.7413 resistance (Fibonacci extension, Elliott wave theory, bearish price action) for a push down to at least 0.7334 support (Fibonacci retracement, horizontal swing low support).
Stochastic (34,5,3) is reversing nicely from our 94% resistance with good downside potential to play the drop.
Sell below 0.7413. Stop loss is at 0.7437. Take profit is at 0.7334.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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