NZDUSD on a bearish trading channel (02.09.2013)

nzdusd 02,09,13

The NZD/USD is downtrending overbought under a falling trading channel making it a good selling opportunity.

Read about the Trend/Wave/Extreme system here

Our Trend/Wave/Extreme indicator says we have

  • a downtrend
  • overbought market conditions

Combine this is with a falling trading channel and a bearish candle following a doji candle make this a good short opportunity

 Recommended Stop Loss is around the 0.7870 price, the previous high.

ALWAYS PLACE A STOP LOSS TO PROTECT FROM REVERSALS.

Read about the Trend/Wave/Extreme system here

The following is an analysis of the currency markets using the Trend/Wave/Extreme system . You can read about the system here. Please read our Risk Disclosure and Terms of Use  prior to making a trade using this information.