NZD/USD: the sellers waiting to go short

EagleFX Team EagleFX

NZDUSD has been bearish on the intraday charts today. The pair had a bearish day yesterday as well. Today, the price has breached yesterday’s lowest low and headed towards the downside further. If the price makes a pullback up to the breakout level and produces an H1 bearish engulfing candle right at the level of 0.6283 closing below the level of 0.6274, selling the pair may get us some green pips.

Let us have a look at the trade summary

Entry: H1 bearish engulfing candle producing at 0.6283 closing below 0.6274

Stop Loss: Above 0.6283

Take Profit: 0.6233

Please Note

The signal candle is to be a bearish engulfing candle.

The signal candle is to close below 0.6274.

The level of 0.6283 must not be breached by the H1 candles.

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Author

EagleFX Team

EagleFX

EagleFX Team is an international group of market analysts with skills in fundamental and technical analysis, applying several methods to assess the state and likelihood of price movements on Forex, Commodities, Indices, Metals and

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