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.
Risk Warning: CFD and Spot Forex trading both come with a high degree of risk. You must be prepared to sustain a total loss of any funds deposited with us, as well as any additional losses, charges, or other costs we incur in recovering any payment from you. Given the possibility of losing more than your entire investment, speculation in certain investments should only be conducted with risk capital funds that if lost will not significantly affect your personal or institution’s financial well-being. Before deciding to trade the products offered by us, you should carefully consider your objectives, financial situation, needs and level of experience. You should also be aware of all the risks associated with trading on margin.
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