01.07.202010:22 Forex Analysis & Reviews: Trading idea for NZD/USD

Exchange Rates 01.07.2020 analysis

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

As part of the general short-term trend, a false breakout occurred yesterday, in which the quotes closed even lower in the market. Open short positions and follow the trading idea below:

Exchange Rates 01.07.2020 analysis

The target is to short the pair to the level of 0.63750, which is the weekly stops of buyers. The profitability of such a transaction (from the current prices) is 3:1.

This trading idea is based on the "Price Action" and "Stop Hunting" strategies.

Good luck!

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

Andrey Shevchenko,
Analytical expert
InstaForex Group © 2007-2020
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