Divergence on NZD/USD

Divergence on NZD/USD

In the near future, the bearish sentiment may prevail on the NZD/USD currency pair. Near the "mirror" resistance level of 0.69300 formed a fairly strong reversal formation, the price and MACD histogram divergence, was formed (H1 timeframe). The key support is the mark of 0.68800. We recommend paying attention to this formation.

If the price fixes below the support level of 0.68800, you need to look for entry points to the market to open short positions. The closest target for fixing profit is the demand zone of 0.68250-0.68400. In the medium term, the on the NZD/USD currency pair currency pair may reach a round level of 0.68000. When following a position, one should use a trailing stop.

by JustForex, 2017.11.02

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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.