The NZDUSD is on a downtrend since April of this year. Last Friday, it broke the MA20 and barely above MA50 and is knocking on the upper channel. If the price gets rejected, we will see this bounce on previous low (0.64232) or making a lower low scenario. If the price breaks the upper channel, it will retest the previous high @0.67000 area which is also in confluence with MA100.
My bias for this pair is to go long.
LONG entry at MA50 (0.65849)
STOP level MA20 (0.65465)
TP Previous high or just below the MA100 (0.66983)
This is not a recommendation. For my personal reference only. Trade at your own risk
My bias for this pair is to go long.
LONG entry at MA50 (0.65849)
STOP level MA20 (0.65465)
TP Previous high or just below the MA100 (0.66983)
This is not a recommendation. For my personal reference only. Trade at your own risk
