FX:NZDUSD   New Zealand Dollar / U.S. Dollar
As we can see on a weekly time frame, this pair is completing a cycle (low-to-low) trending slowly up within a channel. For trading purposes though, it is actually trending down. Currently this pair is in one of the strongest down trends of all the majors. The NZD is the weakest currency, while the USD is the strongest one. That's why I expect further continuation to the downside toward the lower border of the channel. However, a word of caution is necessary: There's a relatively strong support level at about 0.81, which happens to be both a multi-pivot line and a median line of a horizontal channel. I don't think this support is going to hold as much as 0.80 should, but buyers may be more active here.
There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
I'm short again. Looking to TP at 0.8. :-)
Sam0101 ForceFollower
u going to sell now to 0.8?
I have sold it at about 0.81, seeing it break all the bull trend lines. I'm holding to it all the way down to 0.8.
Oooooh! I've closed my short position at 0.8, but it keeps going down. I should have left at least a small part of it running. Anyway, a very nice trade. :-)
Sam0101 ForceFollower
Good job force. I think usdjpy is on its bull to 110
+1 Reply
USDJPY looks a bit correction-heavy. I'll be looking to go long again at about 108.4.
And I'll be looking to go short NZDUSD, AUDUSD & EURUSD again, but I don't know where & when yet.
Sam0101 ForceFollower
hmm 108.4? It is now stay above 109.2 which is 100 MA. I think 110 is approaching before any correction?
OK. perhaps 108.5. :-)
Well, I don't know for sure anything. Maybe it is on its way to 110, maybe not. All I know is that USDJPY has just ceased to be in the strongest trend, so I'm no longer so convinced it'll continue higher from this point on. But perhaps it will get there very soon. Definitely, it would be a bad idea to go short (not in my strategy at all); it is much better to bet on a long position. So if you're long, stay long.
Anyway, at the moment, I can see no trading opportunities with my strategy.

Sam0101 ForceFollower
good i like this chart. at the other side, the kiwi looks bearish
+1 Reply
Sam0101 ForceFollower
Hey force, in this case u looking USDJPY will going to make a new high to 110?
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