Description :
Looking at the H4 chart, my overall bias for NZDUSD is slightly bearish as there is a key resistance level, Looking for a sell entry at 0.63645 where below the overlap resistance. We are looking to take profit at 0.62718, which is the recent swing low, Stop loss will be placed at 0.64070, where the 38.2% Fibonacci retracement is.
Trading Recommendation
Entry: 0.63645
Reason for Entry:Key resistance level + descending trend line
Take Profit: 0.62718
Reason for Take Profit:
recent swing low
Stop Loss: 0.64070
Reason for Stop Loss:
38.2% Fibonacci retracement
