Day trading strategies on currency pair NZDCAD 19-07-2016 by AzaForex forex broker, things every trader should know about forex

Pro tips and tricks for forex trading.
The New Zealand dollar after such a fast rise up at the chart of the currency pair so promptly flew down. Bulls were not able to consolidate its success and were driven up by bears to the price level of the uptrend. The Canadian dollar now looks stronger on the forex market and, therefore, do not expect that the movement of currency quotes stop in the near future. Now the price is already not only below the 20 moving average, but fell below 200 and the second slide, indicating a fracture of the trend of a growing confidence in the downlink. You can also observe that there was a first fractal after crossing the 200 average, which can be used as an excellent opportunity for traders to go short below the low of a pending order. On the chart of the currency pair, we see clearly that the price stopped at an even level of 0.9100, thus showing once again that such flat levels focused a lot of different orders. This time they were more to buy, and the price jumped up a little, but this movement is now losing speed. Let's wait and see how investors will  behave in this situation, the one, who sell for a fall of this currency pair. If the volume of transactions for the purchase today will begin to fall, it will tell us that the buyers are exhausted and power over the currency markets will again go into the hands of the bears.
 
The price is below a simple moving average 200 MA and 20 MA indicating bearish trend.
The MACD trend indicator is below zero level now, indicating bearish movement.
 
If the support level is broken you can use the following recommendation:
•             Chart timeframe: H4
•             The trade recommendation: Sell
•             The level of entry into short position 0.9100
•             The level of profit and close the position: 0.9000 (100 pips)
 
 
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Possible bearish movement in the breakdown of the support level 0.9800