Synapse
Short

NZDUSD Short Opportunity

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
183 1 3
a year ago
Market has consolidated a little bit giving us obvious support and resistance to pay attention to.

First attempt to break the 3-touch trendline it was massively rejected, I am expecting another short term rejection possibly to the bottom support shown. This trade also lines up with the descending wedge spotted on the EURNZD             , a temporary short term reversal.

Entry at .6800.
Stoplosses should be placed above the most recent high, the candle with a wick poking past the trend line.

Targeting the lower end of the same candle first, bottom support line 2nd.

Please keep in mind that medium term I am expecting NZDUSD             to go higher, and then longer term towards the end of the year back down.
a year ago
Trade closed: stop reached
Synapse
a year ago
Looks like the market is eager to complete the medium term bullish move for New Zealand. Look for bullish price action on a retest of the resistance that was drawn. 4 Hour close is happening right now, we should have a buying opportunity to end the week on.
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