Categories
Analysis Technical analysis

NZDUSD 11.06.2021

Medium-termtrend: Bearish

The bear market is continuing. The price has already reached the target zone №1 0.71260-0.71165 and it has a potential to reach the target zone №2 0.70310-0.70215. The best prices to try to have a short position are the control resistance zone 0.72303-0.72208. In case of the price is fixed upper the control resistance zone the medium-term trend will be changed to the bull market and all short positions should be closed.

Forex analysis | Amega Forex Broker

Trading recommendation:

It’s recommended to try to have a short position near the control resistance zone 0.72303-0.72208 (105 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15.

The control resistance zone is constructed from the current minimum. If this minimum changes by n points the zone should also be shifted n points down. The risk/reward ratio for every order should be at least 1/3.

All zones are constructed on the basis of data from the CME futures market.

Amega flat vertical colour logo with text

Trade with an award-winning STP broker! Lowest spreads on the market for Forex, Precious Metals, Energies, & Crypto. No re-quotes, no rejection of orders & instant withdrawals.