Through the use of technical analysis, we will see that the kiwi has retraced 50% from the earlier engulfing candle, as a result of which a bearish mood has emerged in the NZD / USD pair.
Because of this, the most optimal strategy is to bet on a fall in the pair, which will be profitable if we set up positions aiming for a breakout below the round level of 0.65.
On the daily time frame, it looks like this:
Keep on following this idea until the kiwi reaches a quote of 0.68. Such will give a rather good profit, about 1:1.
However, we still need to control the risk in order to avoid reducing or losing any gain. Trading in this financial market is very precarious, but also very profitable as long as we use the right approach.
Best of luck!
