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Market Analysis

NZDUSD Bearish Breakout, Time To Sell

June 01, 2018
BY Emma Richards

NZDUSD has broken out of our major support, now is a good time to sell.

Sell below 0.7188. Stop loss at 0.7249. Take profit at 0.7032.

Reason for the trading strategy (technically):

Price has made a bearish breakout of our major support level at 0.7188 (Fibonacci retracement, horizontal overlap support) and is poised to drop further from here towards our profit target support level at 0.7032 (Fibonacci retracement, horizontal pullback support).
RSI (89) sees descending resistance hold our prices down really well and adds to our bearish bias.

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Disclaimer: The publication of Analytics is a marketing communication and does not constitute investment advice or research. Its content represents the general views of our experts and does not consider individual readers’ personal circumstances, investment experience, or current financial situation. The Analytics is not prepared in accordance with legal requirements promoting independent investment research, and Exness is not subject to any prohibition on dealing before the release of the Analytics. Readers should consider the possibility that they may incur losses. Therefore, Exness is not liable for any losses incurred due to the use of its Analytics.

About the analyst
Desmond Leong provides technical analysis to the largest banks, hedge funds, and brokers whilst coaching hundreds of aspiring traders. He specializes in providing actionable and accurate analysis that utilizes the most advanced theories.

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