ChaosTrader63
Short

NZD vs USD approaching all time High

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
The NZD vs USD is approaching it's all time high @ 88415.Currently price is in an uptrend and pushing towards that level with about 130 pips to go.Maybe some time next week price reaches this level but then I am expecting this level to hold and price drop down to possibly a prior support level . Last time price rejected this level and fell nearly 1500 pips. Looking at the monthly chart you can see some signs of weakness already with the previous month closing with a doji candle showing indecision and also we can see major divergence in the Ultimate Oscillator . Reaching this level would also form a double top pattern which is a bearish pattern and indicative of buying pressure weakening. Price does not and may not hit exactly at this level but near this level at which point traders need to have a game plan in action. Now there is also some resistance where price is sitting now at about .86740 which could stall the momentum momentarily but ultimately I think price will push closer. Get you plan in action and be prepared for a possible great opportunity. Have a great trading week and God bless!
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