NZDUSD profit target reached again, prepare to sell once again
Sell below 0.7292. Stop loss at 0.7314. Take profit at 0.7244.
Reason for the trading strategy (technically):
Price has reached our profit target yesterday and bounced up nicely. We prepare to sell once again below major resistance at 0.7292 (Fibonacci extension, horizontal resistance, Fibonacci retracement, channel resistance) for a push down to at least 0.7244 support (Fibonacci extension, horizontal swing low support, channel support).
Stochastic (34,5,3) is seeing strong resistance below 93% where we expect a drop from.
Reason for the trading strategy (technically):
Price has reached our profit target yesterday and bounced up nicely. We prepare to sell once again below major resistance at 0.7292 (Fibonacci extension, horizontal resistance, Fibonacci retracement, channel resistance) for a push down to at least 0.7244 support (Fibonacci extension, horizontal swing low support, channel support).
Stochastic (34,5,3) is seeing strong resistance below 93% where we expect a drop from.