Divergence on NZD/USD

Divergence on NZD/USD

The last two weeks there have been aggressive sales of NZD/USD. For this period, the drop in quotations was more than 250 points. Nevertheless, a technical correction is not ruled out in the near future. At the moment, a classic reversal formation of the price and MACD histogram divergence has been formed (H1 timeframe). The local resistance is the level of 0.71100. We recommend you to pay attention to this situation.

If the price fixes above the 0.71100 mark, you should consider buying NZD/USD. The immediate goal for profit taking is the level of 0.71450. In the medium term, NZD/USD may reach 0.71800-0.72000. Confirmations and entry points to the market should be looked for on lower timeframes. When tracking the position, we recommend using a trailing stop.

by JustForex, 2018.04.25

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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