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MEX_Exchange

NZDUSD testing major support, remain bullish

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 nzdusdshort nzdusdlong nzdusdtrade nzdusddaily Forex forextrading
105
4
trendanalysis harmonicpatterns chartpattern nzdusd nzd usd nzdusdshort nzdusdlong nzdusdtrade nzdusddaily forex forextrading
Buy above 0.7146. Stop loss at 0.7093. Take profit at 0.7245.
Reason for the trading strategy (technically):
Price has been testing our major support atc0.7146 (Fibonacci retracement, horizontal overlap support) and we expect to see a strong bounce off that level to push price to at least 0.7345 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,3,1) is seeing strong support above 0.9% where we expect to see a corresponding bounce from.
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