NzdUsd - H4 I prefer shorts on current levels due to technicals and market sentiment which favours a stronger dollar at current levels. Major trend is still down for dollar so this would be considered a counter-trend trade
ON THE DAILY CHART WE HAVE A SIMPLE TRADE. WAIT FOR PRICE TO GO BACK TO 0.70634.
SELL JUST BELOW 0.70634 WITH A STOP LOSS JUST ABOVE 0.71238.
NO PROFIT TARGET SET. LET THE PIPS COME TO YOU.
Also as additional technicals to support the short NZD$ view:
1. On the daily, H1 and weekly NU currently Trades (and at 0.73) close/ at to its +2 standard deviation lines, these are highly resistive.
- Assuming NU trades mean reverting +2SD means there is a 95% chance of a price reversal/ 95% of all prices should be below the +2SD channel lines (e.g. NU...
