Strategy: Pending Short
NZDUSD is on the cusp of producing a major trend change, with prices on pace to break through key rising trend line support that has guided the multi-month uptrend since June. Should the breakdown materialize, the door will open for an initial decline to 0.7340, with a subsequent move below that exposing the psychologically critical 0.70 figure. We will watch the pair closely for a short entry opportunity.
To discuss these strategies with other traders, please visit the Candlestick Forum
To receive future articles by email, please contact Ilya at email@example.com