NZD/USD 25.07.2016
H4 графика.
Long term downtrend and short term decrease.
Break of flag formation for possible new downward impulse.
Price below resistances
Price action: pin bar at levels of resistance and price below the base.
Technical indicators:
Price below the dynamic resistances (ЕМА 5,13,25) ordered in bearish formation
CCI(50) and RSI(14) in negative territory
Sentiment: RBNZ is expected to cut rate which is negative for NZD, as sequence of better than expected data for the USA economy supports USD.
SL: 0,7030
Alternative scenario: If price goes above the upper shadow of the pin bar this will negate the bearish formation.
Jr. Trader Nikolay Georgiev
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