NZDUSD made a strong bearish move on the daily chart. The H4 chart suggests that the price has started having a correction already. There is a level nearby which has potential to be a level of resistance. If the level is held by the price and it produces an H4 bearish engulfing candle, then an H1 breakout at the lower low would be the signal to sell the pair again.

This is another trade idea generated by the Elite Swing Trader.

As we can see that the price has started having a correction after making a strong bearish move. The level of 0.67350 is the level of support here. On the other hand, the level of 0.67730 is the level which seems to be a potential level of flip over resistance. If the level is held and it produces an H4 bearish engulfing candle, then an H1 breakout at the level of 0.67350 would lead the price to go towards the level of 0.66735 without having that many pauses. Summary of the trade...

• Sell Stop Order: 0.67350
• Stop Loss:   0.67730
• Take Profit:  0.66735

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On 27th March 2019, NZDUSD made a huge bearish move on the H4 as well as on the Daily chart. It seems that the bearish move is still playing its part by keeping the pair’s price bearish. In fact, the pair might stay bearish for some weeks for that move. Meanwhile let us concentrate on our trade setup today; wait for that H4 engulfing bearish candle and the breakout to take the entry according to the trade setup.

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