U-turn possible on NZD/USD

2 min read

Yaroslav Mudryi

Forex broker

Hi traders,

The NZD/USD currency pair has the possibility of a reversal in the continuation of the uptrend.

On the NZD / USD currency pair, I am considering 2 options for trading:

  1. Early U-turn from 0.6345-0.6325 zone. You must understand that the transaction is risky, since the point for a reversal is not the best! In order for us to understand that the pair has a chance to reverse, the price needs to make a breakdown of the level of 0.6345 + a breakdown of the downward trend line. A suitable time frame for such a trade, M30. The goal of profit for today is the level of 0.6388.
  2. The price will go down to the zone 0.6275-0.6255. I do not exclude that the price will go to this zone, since the point for a reversal is very good. Earlier, the price had already made a false breakdown in this zone, returned to it and after which the price flew up. Why again, the price does not appear in it ?! The goals of a possible profit are indicated in the screenshot.

Good trading,
Yaroslav Mudryi.

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