newgenforex

NZDUSD Looking Bearish

Short
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Looking at NZDUSD for the coming week, looking at the chart pattern i'm expecting price to retrace to the support zone and following the hour trendline. The stochastic indicator is also showing the market is over bought, suggesting a drop.

With a 1:2 risk to reward ratio, looks to be a nice profitable, bearish setup. What do you think?

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