NZDUSD Short Divergent Setup

NZDUSD short divergent setup

The NZDUSD is now solidly Divergent on 1 hour, Stochastic overbought and MACD declining.  AUDUSD is also in a similar pattern but not as convincing to me quite yet.  The NZDUSD looks better to me but both have the same setup risk in that 800 SMA is not too far off.  On the plus side the daily pivots are both below price now.  So maybe they hit the 800 and turn around OR forget the 800 and go for the daily pivots?   I have not traded these pairs for a while but looks interesting.

 

I have a small test position on the NZDUSD and am just watching the AUDUSD at this point. 

 

Safe trading,

 

Mike

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