26.06.202010:37 Forex Analysis & Reviews: Trading idea for NZD/USD

Exchange Rates 26.06.2020 analysis

Good afternoon traders! A trading idea for the NZD / USD currency pair.

For the past two weeks, buy stops have been placed at the level of 0.63700. As a result, on Wednesday, a good short-term initiative appeared, from which a breakout may occur from the level.

Exchange Rates 26.06.2020 analysis

Short the pair by forming a classic "ABC" wave pattern, with the exit of buy stop orders at 1.63700.

Forget the idea if the quotes breakout above 0.65.

Have a successful trading and make sure to control the risks!

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Andrey Shevchenko,
Analytical expert of InstaForex
© 2007-2021
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