Trade Recommendation: GBPNZD

The price diverges with MACD and RSI, it gives us a trend reversal signal. MACD supports downward movement and DMI shows that bears are not so strong. The daily chart looks overbought and we should expect for a correction movement. It’s sell opportunity. Pending orders should be placed at 1.91870 level with stop orders above the resistance at 1.94500 level. The main profit target is 1.87000 level. But also it’s possible to fix profit by parts near 1.90000 and SMA100. Don’t risk more than 3% from your deposit in this trade.

Market: GBPNZD
Sell: 1.91870
Stop: 1.94500
Profit Targets: 1.87000

Author:
Dmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years trading experience. The main covered markets are Forex, Commodity, Cryptocurrency. Provides personal education for those who are interested in profitable trading. Entries in TOP 10 among TradingView authors.