Bearish Engulfing on NZD/USD

Bearish Engulfing on NZD/USD

Since the beginning of this week, there have been aggressive purchases of NZD/USD. Kiwi rose almost by 100 points. Nevertheless, a technical correction is not ruled out in the near future. Near the key offer zone of 0.73000-0.73250, a classic pattern of Price Action, Bearish Engulfing, (H4 timeframe) has been formed, which acts as a reversal formation. At the moment, the NZD/USD quotes are testing the local support of 0.72800. We recommend you to pay attention to this situation.

If the price fixes below the 0.72800 mark, NZD/USD sales should be considered. The immediate goal of profit taking is the "mirror" support of 0.72450. In the medium term, the trading instrument can reach the round level of 0.72000. Confirmations and entry points should be looked for on lower timeframes. When tracking positions, it is better to use a trailing stop.

by JustForex, 2018.04.05

Este artículo representa una opinión personal y no debe interpretarse como un consejo de inversión, y/u oferta, y/o una petición persistente para llevar a cabo transacciones financieras, y/o una garantía, y/o un pronóstico de eventos futuros.

Abrir cuenta

Consigue análisis gratis

* campos obligatorios
Últimos artículos
Todos los artículos