Main Quotes Calendar Forum
flag

FX.co ★ NZD/USD testing major resistance, remain bearish

parent
Forex Analysis:::2017-08-21T01:59:32

NZD/USD testing major resistance, remain bearish

Price is now testing the major resistance at 0.7337 (Fibonacci retracement, horizontal swing high resistance, bearish divergence) and we expect a drop from this level to at least 0.7223 support (Fibonacci extension, horizontal swing low support).

Stochastic (34,5,3) is reversing nicely below our 96% resistance and we also see bearish divergence vs price signalling that a reversal is impending.

Sell below 0.7337. Set stop loss at 0.7373 and take profit at 0.7223.

NZD/USD testing major resistance, remain bearish

Analyst InstaForex
Share this article:
parent
loader...
all-was_read__icon
You have watched all the best publications
presently.
We are already looking for something interesting for you...
all-was_read__star
Recently published:
loader...
More recent publications...