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NZD/USD Potential Downward Movement

NZD/USD Long-Term Trend: Bearish

Key Resistance Levels: 0.6131, 0.6192, 0.6207

Key Support Levels: 0.6032, 0.5987, 0.5913

Daily Chart:

The price on the higher time frame has been trading in a downtrend for the last few months and recently it did pull back to the 0.6548 level and reversed from there. The pair has broken a support level of 0.6218 and showing signs of a bearish trend.

NZD/USD Medium-Term Trend: Bearish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. The price traded between a range of 0.6192 and 0.6131 for some time. The pair has broken and retested the 0.6131 level and it has now broken another support level of 0.6101

Signal Idea:

Sell Stop Order @ 0.6089

TP 1 @ 0.6041

TP 2 @ 0.5969

Stop Loss @ 0.6137

Trade Safely 🙂

About Vipul Rathaur

A trader with more than six years of experience, Vipul is a discretionary trader and uses multi time frame analysis for his analysis and price action for his trade signals. Believes that risk management is the secret to making it in this world. He trades major Forex pairs, Indices, and Commodities.

2 comments

  1. Most of free signal are not worth to follow. This one was hit SL. I dont know why every free signal send to VIP are mostly lose.

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