Description: As shown above we have
NZDUSD
. This Pair is currently Bearish.
Monthly
2008: Price rallied bullish Breaking (0.65) level until 2014.
2014: Price came down Bearish to test (0.65) area but cannot break past this level.
RSI: Bearish Territory
EMA:
200 acting as magnetic Support
50 acting as Magnetic Resistance
---
Weekly
2014: Bearish Movement broke past (0.72) level in 2015
2015-Present : Currently in a bullish Channel.
Bullish channel reached back up into (0.72) level but there is strong rejection of wicks which indicate bearish movement.
RSI:Bearish territory
EMA:
200 Acting as Magnetic Resistance
(PRICE) currently around 50 acting as Magnetic Support.
Price Pushed (Bearish) Past 10,20 these past two weeks with strong Bearish Candles.
--
Daily
3 Month Common Retest of (0.72) Level but unbroken Resistance
RSI: Bearish Territory
EMA
200 Acting as Magnetic Support
10,20,50 recently Broken by Bearish Movement
---
Trade Time: LONG TERM
Decision: I have decided to short this Pair. I will be Shorting this Pair on BREAK OF...
Lower Trend Line (See chart)
200 EMA ( See Daily Chart)
(2015-2016) 0.382 Retracement Of Bullish Movement (Not shown on chart)
Sell Stop Order: 0.6971
SL: 0.7059
TP1: 0.6832
TP2: 0.6689
Thank you for viewing my idea. If you decide to take this trade,please leave a comment and a thumbs up. I will be happy to stay in touch to see how the setup is planning out.
Your also welcome to post your analysis below.
Remember to always trade your strategy... Happy Trading
NZDUSD
. This Pair is currently Bearish. Monthly
2008: Price rallied bullish Breaking (0.65) level until 2014.
2014: Price came down Bearish to test (0.65) area but cannot break past this level.
RSI: Bearish Territory
EMA:
200 acting as magnetic Support
50 acting as Magnetic Resistance
---
Weekly
2014: Bearish Movement broke past (0.72) level in 2015
2015-Present : Currently in a bullish Channel.
Bullish channel reached back up into (0.72) level but there is strong rejection of wicks which indicate bearish movement.
RSI:Bearish territory
EMA:
200 Acting as Magnetic Resistance
(PRICE) currently around 50 acting as Magnetic Support.
Price Pushed (Bearish) Past 10,20 these past two weeks with strong Bearish Candles.
--
Daily
3 Month Common Retest of (0.72) Level but unbroken Resistance
RSI: Bearish Territory
EMA
200 Acting as Magnetic Support
10,20,50 recently Broken by Bearish Movement
---
Trade Time: LONG TERM
Decision: I have decided to short this Pair. I will be Shorting this Pair on BREAK OF...
Lower Trend Line (See chart)
200 EMA ( See Daily Chart)
(2015-2016) 0.382 Retracement Of Bullish Movement (Not shown on chart)
Sell Stop Order: 0.6971
SL: 0.7059
TP1: 0.6832
TP2: 0.6689
Thank you for viewing my idea. If you decide to take this trade,please leave a comment and a thumbs up. I will be happy to stay in touch to see how the setup is planning out.
Your also welcome to post your analysis below.
Remember to always trade your strategy... Happy Trading
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