Nzdshort
NZD weakening against the USD - looks a SELL from MARKET .6063Not much dollar strength about but the NZD, one of my favourite SELLING currencies seems to be faltering. For several sessions the BULLS have struggled to force the price past recent highs at .6102 and my specialist indicator is flagging a moderate SELL on this pair. For a risk of 36 pips and a target of 146 pips - this looks a reasonable trade in the current thin market. I'm in at .6063 with a STOP above the high at .6102 and a T.P. at .5920.
Easter holidays mean this is a thin trading day so this will be a slow burner with the tempo picking up tomorrow.
NZDUSD SHORT (DEFY ASCENDING TRIANGLE)NZDUSD closed with a bickering future as to any increase in price.
1. It broke out with a very ridiculously low volume viewed on 4 hours
2. It shows a DOJI candle on the daily
3. The FIB retracement coincided with the DOJI
If at all NZDUSD increases, its gonna stop at the o.618 FIb line coinciding with a major resistrance and go down.
Comment your thoughts. Gracias