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MEX_Exchange

NZDUSD Bounced from Its Support, Prepare For a Further Rise

Long
New Zealand Dollar / U.S. Dollar (FX:NZDUSD)  
MEX_Exchange  
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns NZDUSD NZD USD nzdusdlong Forex forexsignals Bitcoin (Cryptocurrency) bitcoinforecast
8
1
trendanalysis harmonicpatterns chartpattern nzdusd nzd usd nzdusdlong forex forexsignals bitcoin bitcoinforecast
Buy above 0.7347. Stop loss at 0.7319. Take profit at 0.7394.
Reason for the trading strategy (technically):
NZDUSD bounced nicely off its support at 0.7347 (61.8% Fibonacci extension, 23.6% Fibonacci retracement, horizontal overlap support) where we expect to see it rise further to its resistance at 0.7394 (horizontal swing high resistance).
Stochastic (34, 5, 3) bounced off its support at 4.2% where we expect to see a corresponding rise.
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