NZDUSD dropped perfectly, remain bearish for a further push down
Sell below 0.7145. Stop loss at 0.7175. Take profit at 0.7087.
Reason for the trading strategy (technically):
Price has dropped absolutely perfectly as expected. We remain bearish looking to sell on strength below 0.7145 resistance (Fibonacci retracement, horizontal pullback resistance, descending resistance) for a further push down to at least 0.7087 support (Fibonacci extension, Elliott wave structure).
RSI (34) sees a bearish exit of our triangle formation signalling that further bearish momentum is expected.
Reason for the trading strategy (technically):
Price has dropped absolutely perfectly as expected. We remain bearish looking to sell on strength below 0.7145 resistance (Fibonacci retracement, horizontal pullback resistance, descending resistance) for a further push down to at least 0.7087 support (Fibonacci extension, Elliott wave structure).
RSI (34) sees a bearish exit of our triangle formation signalling that further bearish momentum is expected.