Good afternoon traders! Here is a trading idea for the NZD/USD pair.
Today, the plan is to push the quotes within the values 0.65800 and 0.63800:
This is because a short-term initiative has formed in the hourly chart (H1) yesterday, from which a decent pullback above 50% has occurred today.
So, trade short positions and take profit when the quotes breakout of the level 0.03800.
The profitability for such a transaction is 5 to 1.
Always remember to control the risks. Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
Source:: Trading idea for NZD/USD