Sell below 0.7190. Stop loss at 0.7225. Take profit at 0.7110.
Reason for the trading strategy (technically) :
We raise our selling area to 0.7190 to add more short positions. This is a strong resistance level (Fibonacci retracement + channel resistance). We look to play the drop to at least 0.7110.
RSI (34) is right on resistance at 58% signaling a reversal from here together with price.
Reason for the trading strategy (technically) :
We raise our selling area to 0.7190 to add more short positions. This is a strong resistance level (Fibonacci retracement + channel resistance). We look to play the drop to at least 0.7110.
RSI (34) is right on resistance at 58% signaling a reversal from here together with price.
Exness - NZDUSD right at channel resistance, sell now
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