To receive David’sanalysis directly via email, please SIGN UP HERE
Talking Points
NZD/USD Technical Strategy: Hanging Man prefers shorts
Noteworthy resistance at 0.8340 offers potential entry
Targets suggested at psychologically significant levels
A Hanging Man candlestick formation on the four hour chart for NZD/USD at resistance may be warning of fresh declines for the pair. Sellers appear to be capping gains for the Kiwi at the 0.8340 level which may offer a potential entry for shorts. As noted in the most recent Kiwi candlesticks report; a Shooting Star formation on the daily had hinted at a reversal with a target of the psychologically significant 0.8300 level.
Confirm your chart-based trade setups with the Technical Analyzer.
4 Hour Chart – Created Using FXCM Marketscope 2.0
— Written by David de Ferranti, Market Analyst, FXCM
Contact and follow David on Twitter: @Davidde
New to FX? START HERE
For live market updates, visit the Real Time News Feed
Forex Strategy: NZD/USD Struggles Following Hanging Man Candle
No comments:
Post a Comment