The H1 chart clearly shows that the price is trying to test the resistance at 0.830 level but failed. Unfortunately, my dynamic trailing stoploss was hit at 0.82986. Because of this I was only able to profit 11.4 pips.
NZD/USD D1 chart
Looking at the D1 chart, stochastic and MACD indicators are both giving a bearish signal for this pair.
Stochastic K line is about to reach the 50 level which is a high indication of more downward movement.
MACD and signal line crossed over and the histogram showing volume below 0.00 level is another indication of downward movement.
RSI line just bounced but staying just above the 50 level. A break of 50 level is a bearish signal.
Take note that this chart is as of this moment chart, it can still change by the time the New York market closes.
I put a short entry below yesterdays's low. My target now is at 0.8060 price.
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