Triple top on NZD/USD

Triple top on NZD/USD

Last week there were aggressive purchases of NZD/USD. During this period, the growth of quotations exceeded 200 points. Nevertheless, in the near future, we do not rule out a technical correction. Near the resistance level of 0.7025, the classic reversal figure called Triple top (H1 timeframe) was formed. Local support is the level of 0.69900. We recommend paying attention to this formation.

If the price fixes below 0.69900, NZD/USD sales should be considered. The closest goal of fixing profits is the "mirror" support level of 0.69500. In the medium term, the NZD/USD currency pair may reach 0.69100-0.68700. When following the positions, we recommend using a trailing stop.

by JustForex, 2017.12.18

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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