Forex Trading Training - Forex Update: Selling NZDUSD from the Resistance Zone



To Get Ross' Free Forex Update Analysis - Click Here: http://mytotalsupport.com/cpv/base.php?c=86&key=fd5d14f7ec45b14d31a944108238114b&ls=youtube&keyword=forex_trading_training&ad=pyiskbEkRr4 Let’s go ahead and zoom it in one more time. And of course we’re also underneath the 100-period moving average. The purple-shaded area is going to be highly important today. By the way, if you were following over the past couple of days in the live Trade Room, I have adjusted this purple-shaded area a little bit higher than it was just to fit the most recent price action, so take note of that. It’s right around 0.7055 up to 0.7075. 0.7055 to 0.7075 is the purple-shaded area now, just into our resistance, where the current market is holding as resistance. I also adjusted the little orange-shaded area about five pips or so. 0.6985 at the orange zone. So, just to adjust it, tweak it a little bit with the most recent price action. Anyway. Let’s go ahead and zoom it in one more time here on the daily timeframe still. You look at the blue circle. Support. We’re at resistance. Take a look. Yesterday just held there. Today so far holding there. Let’s go ahead and take it on down to the four-hour timeframe. And this is probably the most important part about this. Let’s zoom it in one more time. Take a look. We’re stuck inside the purple-shaded area and have been bouncing around, and this is what I started with on the EURUSD. We’re kind of stuck. We need one of two things to happen here on this currency pair. Either it breaks underneath it to go lower or it breaks above it to go higher, so that’s one of the two scenarios that we’re looking for. We don’t want to get fooled into a false breakout, and that’s what we spoke about yesterday in the live Trade Room. Getting fooled into a false breakout. So, we don’t want that. We prefer to see an open and close either before 0.7055, which is the bottom to go lower, or above 0.7075, above the top to go higher. I prefer the sell side because of the fundamentals and most of the technicals that we’ve been studying here. I just don’t want to fall prey to the false breakout, like you might have if you would’ve traded this little spike right here. So, false breakout. We want to wait for that. I do think we need to concentrate on the short side here for this currency pair, waiting for the open and close underneath 0.7055 before taking the shorts on the NZDUSD today. https://www.youtube.com/watch?v=vLGoYZu4jbc Disclaimer: This video is for general information only and is not intended to provide trading or investment advice or personal recommendations. Any information relating to past performance of an investment does not necessarily guarantee future performance. Forex Traders Daily including its analysts shall not be responsible for any loss that you incur, either directly or indirectly, arising from any investment based on any information in this video. Please remember derivatives and FX spot carries significant risks and may not be suitable for all investors. Losses can exceed your deposits.

Comments

  1. Thank you. I've used this service ( https://t.co/4cyEkwYmDj )and received very good results (per day $500+).Thanks again


Additional Information:

Visibility: 533

Duration: 5m 6s

Rating: 4