Today’s Forex Signal June 24th

NZDUSD 4hr Chart

After making an impressive run from sub 6600 – 7150, the pair has double topped putting it in a range from 7150 – 7050.

However, the last 4hr candle could be a bad omen for bulls as it forms a stiff rejection just shy of 7150.  This could portend a decline in the works but it will first have to break the base at 7025 for further losses.  Should there be a close below 7000, we expect the pair to tag 6935 first (38.2% fib) and then challenge and important base at 6866.  Traders can wait for the 4hr close below 7000 or wait for a corrective move up to 7135 to short the pair, taking profit shy of 7025, bringing the stop to BE (breakeven) then holding for the larger aforementioned targets.

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I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

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