Description :
Looking at the H4 chart, my overall bias for NZDUSD is bearish due to the current price being below the Ichimoku cloud, Looking for a sell entry at 0.61966 where the overlap support and the recent swing low. We are looking to take profit at 0.60183, where the intermediate support is and 50% Fibonacci line. Stop loss will be placed at 0.62839, where the 23.6% Fibonacci retracement is.
Trading Recommendation
Entry: 0.61982
Reason for Entry: Ichimoku cloud + price momentum + previous swing low
Take Profit: 0.60183
Reason for Take Profit:
Intermediate support + 50% Fibonacci retracement
Stop Loss: 0.62839
Reason for Stop Loss:
Overlap support
