Forex

Bullish divergence spotted on NZDUSD, Forex pair trade near support

by Bhaveek Patel · 0 comments

in Forex

Today’s trade setup on NZDUSD we see a nice bullish divergence trading opportunity, we see that this pair may bounce from its support level which lies at 0.8125 zone. ON 1 hour chart slow stochastic was making higher high, but price action was showing lower low, hence in near term this pair can move higher if risk in market comes back. There is no fundamental news for New Zealand today, hence NZD/USD pair may move in a range. Study the technical analysis first on below chart:

Divegence Trading on NZDUSD

How to trade bullish divergence:

When pair approaches support of 0.8125 level on can enter long on NZDUSD for positional target as 0.8225 level, stop loss for this trade should be at 0.8075. I am risking not more than 2% of my trading capital and recommend you the same. Please read our disclaimer before trading.
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