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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