OANDA:NZDUSD   New Zealand Dollar / U.S. Dollar
NZDUSD looks like it could reverse around this area.

Let me know your thoughts?

Comments

As I said yesterday, NU outlook is long. Let's see how it reacts at 62300
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Hi Peter, there's obviously a possibility to short it, but the Dollar Index is bearish, so equally it could keep climbing. I don't know what other analysis you have done other than the support and resistance levels shown here, but I wouldn't just rely on resistance and support, otherwise the market would always move sideways and it would be predictable. Hope this helps. I always try to find 3 reasons to enter a trade, using price analysis, patterns, and some form of Indicator tool.
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It will most certainly go down on H4 because my setup kinda agrees. There's a bearish divergence with the price and the accumulation/distribution. Plus, Stochastic also crossed. Will probably go down around 50-60 pips. Nice setup, and lets hope it works out! 💪
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No. 100 pips to go before it reverses.
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TigerBabr Chris-K
@Chris-K, did you see the NZD index? It bounced back from the 114.500 key level, so I believe it will go down sooner than you expect, but as usual time will tell.. :)
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@Chris-K, Anything can happen, still I prefer short positions at the moment :)
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Agreed Peter. I share the same view
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