NZDUSD - SELL - 10th March 2022




NZDUSD - SELL - 10th March 2022 (Closed)


Good morning team,

I have been tracking the AUDUSD and NZDUSD for a short trade. Due to commodities facing some selling pressure overnight, there is a chance of a weaker NZD, AUD and CAD. These commodity-related currencies have all been running higher with gold and oil over the past couple of weeks and will most likely move lower with commodities over the next couple of days. Technically speaking, the AUDUSD and NZDUSD appear to have set up a nice Elliott Wave short trade setup.

NZDUSD Daily Chart

NZDUSD 1 Hour Chart

Trade Setup: SELL market execution, current price 0.6832, stop loss 0.6884, take profit 0.6716.

Stop loss: 52 pips

Take profit: 116 pips

Trade Setup
SELL - Market Execution

Entry
0.6832

Take Profit
0.6716

Stop Loss
0.6884