newgenforex

NZDUSD SELL OPPERTUNITY

Short
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Looking at NZDUSD a potential sell opportunity.

Price has undoubtable shot up over recent weeks for NZDUSD . In fact, price hasn't reached the current heights since June 2018!

The Relative Strength Indicator ( RSI ) is showing us the market has been overbought.

We can also see the Ascending Trend which has the potential to break. Therefore, I will be opening a 'Sell Stop' trade. If price hits the 0.69946 my position will automatically open and I will have the Take Profits set as per my chart.

SL: 68 pips
TP1: 41 pips
TP2: 108 pips
Risk to Reward Ratio: 1.55

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