NZDUSD Free Forex Trading Signals – 19th Dec 2016

NZDUSD made another bearish move as we had anticipated in the last week. If you followed our signal last week, then you should have a nice profit. The pair still seems to be very bearish. There is still a lot of space to go down for the pair. Thus, we are eyeing on riding on another sell ride from here. Let us have a look at the 4 hourly chart of NZDUSD.

See the level of 0.69900 is actually a flip over support. The price has been held so far by today’s price action as well. There has already been a bearish 4 hourly inside bar has been formed. Now what we are going to wait for here is a breakout of the level of 0.69300 by a 4 hourly candle.

Since it is Monday, we might not get .that much liquidity, so we might have to wait bit longer to get a break out of this level. If we get a break out then the price should go and check the level of 0.67650. Keep that in mind that there is another support level at 0.68650, where the price might take some time to break the level.

Let us look at the summary of the entry.

• Entry- Set your sell stop order at the break out of the level of 0.69300
• Stop loss- Bit further up of the level of 0.69900.
• Take profit- 0.67650

Comment below if you have questions on this trade and please let us know if you made money if this trade signal. Good luck!

You can also take a look at our previous (and most likely profitable) Free Forex Trading Signals Here.

We hope that you enjoy our Free Forex Trading Signal today: NZDUSD Free Forex Trading Signals – 19th Dec 2016.

Tip of the day:
Today we have given the signal by calculating daily and 4 hourly chart. Normally they are very consistent. However, traders have to be very patient to achieve the target. What usually happens is traders come out little profit if they take an entry depending on bigger time frames, whereas they take the full loss when things go against them. If it goes like this, then a trade will never be able to gain the pips that he deserves. Thus, be very patient when you trade on bigger time frames.