The bear market is continuing. The price has already reached the target zone №1 0.60239-0.60059 and it has a potential to reach the target zone №2 0.58439-0.58259. The best prices to try to have a short position are the control resistance zone 0.61825-0.61645. In case of the price is fixed upper the control resistance zone the medium-term trend will be changed to the bull market and all short positions should be closed.
Trading recommendation:
It’s recommended to try to have a short position near the control resistance zone 0.61825-0.61645 (200 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15.
The control resistance zone is constructed from the current minimum. If this minimum changes by n points the zone should also be shifted n points down. The risk/reward ratio for every order should be at least 1/3.
All zones are constructed on the basis of data from the CME futures market.
Trade with an award-winning broker! Lowest spreads on the market for Forex, Precious Metals, Energies. No re-quotes, no rejection of orders & instant withdrawals.
NZDUSD 01.06.2023
Medium-termtrend: Bearish
The bear market is continuing. The price has already reached the target zone №1 0.60239-0.60059 and it has a potential to reach the target zone №2 0.58439-0.58259. The best prices to try to have a short position are the control resistance zone 0.61825-0.61645. In case of the price is fixed upper the control resistance zone the medium-term trend will be changed to the bull market and all short positions should be closed.
Trading recommendation:
It’s recommended to try to have a short position near the control resistance zone 0.61825-0.61645 (200 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15.
The control resistance zone is constructed from the current minimum. If this minimum changes by n points the zone should also be shifted n points down. The risk/reward ratio for every order should be at least 1/3.
All zones are constructed on the basis of data from the CME futures market.
Trade with an award-winning broker! Lowest spreads on the market for Forex, Precious Metals, Energies. No re-quotes, no rejection of orders & instant withdrawals.
Open account
Latest Posts
Amega reduces spreads up to 50%
25 September 2023Amega is going to the Traders Fair South Africa, 2023
14 September 2023Copycats: How social trading is changing the game.
18 July 2023BRENT 14.07.2023
14 July 2023GOLD 14.07.2023
14 July 2023Categories
Tags