Selling Opportunity on NZDUSD - Entry: 0.62746
Hello everyone, I'm currently looking for a selling opportunity on NZDUSD. Here are the reasons for a potential bearish movement/continuation:
We have witnessed a breakout of the upward channel.
The entry point is essentially a retest of the upward channel, which now acts as resistance.
There has been a structure breakdown (BOS).
The price is in the 0.5 - 0.618 Fibonacci retracement zone.
In terms of correlation with the DXY, the dollar has shown a recovery and is now trading above 100.000 points. This suggests a possible appreciation of the dollar against other currencies, including the NZD, as seen on the chart.
Entry price:
0.62746
Stop loss:
0.63247
Take profit:
0.61322
Risk-to-reward ratio: 1:2.5
Let's see how this trade unfolds!
We have witnessed a breakout of the upward channel.
The entry point is essentially a retest of the upward channel, which now acts as resistance.
There has been a structure breakdown (BOS).
The price is in the 0.5 - 0.618 Fibonacci retracement zone.
In terms of correlation with the DXY, the dollar has shown a recovery and is now trading above 100.000 points. This suggests a possible appreciation of the dollar against other currencies, including the NZD, as seen on the chart.
Entry price:
0.62746
Stop loss:
0.63247
Take profit:
0.61322
Risk-to-reward ratio: 1:2.5
Let's see how this trade unfolds!
Dagangan ditutup secara manual
Closed at break even
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.