Vladimir RibakovOwner, Chief Trader at Home Trader Club (Former Traders Academy Club), Owner, Chief Trader at Home Trader Club (Former Traders Academy Club) · Owner, Chief Trader at Home Trader Club (Former Traders Academy Club)

NZDUSD Analysis & Trading Plan - 16 Oct 2024 #forex #trading #forexsignals #fyp #shorts

16 Oct 2024 · 1 min

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Vladimir Ribakov identifies a bearish divergence on the daily NZD/USD chart: higher price highs with lower MACD highs, plus a broken trendline. The 4-hour chart shows a completed bearish structure with a forming bullish divergence, creating short-term rally opportunities to sell into.

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Here is why New Zealand dollar could be a very interesting short-term sell the rallies opportunity. On a daily chart, bearish divergence: higher highs on the chart, lower highs on the MACD flipping to make bearish convergence: lower lows on the chart, lower lows on the histogram of the MACD. And the most recent daily trendline is broken to the downside. 4-hour chart completes bearish price structure: 3 lower highs, lower lows. At the moment, there is some sort of a bullish divergence developing there. Which means short-term rallies are very welcome and likely, but as long as these Fibonacci levels will hold, I would be looking to sell the rallies.