Buy above 0.7258. Stop loss at 0.7237. Take profit at 0.7311.
Reason for the trading strategy (technically):
Price is now testing major support at 0.7258 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and we expect to see a strong bounce above this level to push price up to 0.7311 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,5,3) is seeing major support above 13% where we expect a bounce from that corresponds to the one we’re expecting on NZDUSD.
Reason for the trading strategy (technically):
Price is now testing major support at 0.7258 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and we expect to see a strong bounce above this level to push price up to 0.7311 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,5,3) is seeing major support above 13% where we expect a bounce from that corresponds to the one we’re expecting on NZDUSD.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.