NZDUSD -- Bearish RSI divergence

2019-12-05 15:39:24

PAIR IN FOCUS: NZDUSD
ACTION: SHORT
HORIZON: SHORT-TERM

Price is currently at the upper bound of a rising trend channel and a bearish RSI divergence has presented itself, signalling an incoming price correction. Look for bearish price action before any entry. It is possible for price to carve another swing high before the actual correction. Looking to TP near the lower bound of the trend channel.

The TP levels are indicated on the chart. Remember to manage your risk!

Feel free to discuss and comment, Cheers!

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