NZDUSD on the verge of magnificent reversal
the daily chart of NZDUSD pair, we will see the following signals that argue us
to be bearish over short-term basis:
*Yesterday’s shooting start candle that was drawn after re-experiencing the strong resistance levels of 0.7330.
*Yesterday, MACD has overlapped negatively for the first time since February 08, 2017, while February crossover sent it strongly to the downside after forming a pin par the day before.
*Histogram of MACD came below (0) level for the first time since February 2017.
*Vortex indicator –trend indicator- is s showing a signal of uptrend weakness for the first time since May 16, 2017
The above-mentioned negative catalysts offer fresh sell entries for NZDUSD pair; noting that the weekly resistance resides at 0.7375 and stop loss should be placed above it.