2020-01-06 • Updated
Market sentiment has worsened on the news about the conflict between the United States and Iran. There are many ways to trade the risk-off sentiment. One of them is to sell NZD/USD.
Technically this idea looks quite reasonable. Last week the pair spiked above the 100-week MA but failed to close above it forming a big spike upwards. This is a sign that sellers don’t want to let the price get higher. On the smaller timeframes, there’s support around 0.6630 and then not much until 0.6580. This provides the scope for selling.
There will be sense to consider bullish positions only if NZD/USD returns above 0.6670. The next resistance will be at 0.6720 (100-week MA).
Trade ideas
SELL 0.6625; TP 0.6580; SL 0.6640
BUY 0.6675; TP 0.6715; SL 0.6650
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!
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