NZD / USD: bearish trend and choppy trade last month.
The price is in the zone of resistance around the last 3 tops.
Engulfing bar, shooting star on top and price below the base of the bar, signaling a possible new negative momentum in the direction of the trend.
Therefore, we have trend and a sell signal in the direction of downward movement. Correction of a few pips now gives us good places for new short positions with stop 0.6615.
Stoch crosses below its previous bottom, can also be considered a negative signal, although the bar is not finished yet.
Stefan D. Angelov - Head of Stocks Trading
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