NZDUSD is set up for a double top at this moment.
If the price crosses .71024 area, it will most likely begin a multi-day downtrend if it can break through the support levels around .69231.
If price is able to stay within the channel and eventually cross over .71293 resistance level, NZDUSD may remain in uptrend mode.
I am going short if:
- price crosses down over .70982
- 3HR and 4HR MACD line crosses the signal line
Exit price range I am aiming for is in the .698's
If the price crosses .71024 area, it will most likely begin a multi-day downtrend if it can break through the support levels around .69231.
If price is able to stay within the channel and eventually cross over .71293 resistance level, NZDUSD may remain in uptrend mode.
I am going short if:
- price crosses down over .70982
- 3HR and 4HR MACD line crosses the signal line
Exit price range I am aiming for is in the .698's