Divergence on NZD/USD

50.0% Correction Zone at GBP/USD

The current technical pattern signals a possible correction of the NZD/USD currency pair after a significant decline last week. A classic reversal formation of the price and MACD histogram divergence (M30 timeframe) has been formed on the trading instrument. The NZD/USD currency pair held a round level of 0.66000, which caused the bullish sentiment. At the moment, quotes are testing the local resistance of 0.66200. We recommend paying attention to this situation.

If the price fixes above the level of 0.66200, it is necessary to look for entry points to the market to open long positions. The closest target for fixing profit is the 0.66350-0.66500 mark. Target movement level is 0.66700-0.66850. When following the position, we recommend using a trailing stop.

by JustForex, 2018.09.03

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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