FX:NZDUSD   New Zealand Dollar/U.S. Dollar
22 0 0
MONTHLY CHARTS SHOW PRICE TO HAVE BROKEN OUT OF A SMALL CHANNEL. WEEKLY AND DAILY CHARTS SHOW PRICE TO HAVE HIT MAJOR TRENDLINE . THEORY SAYS TO ALWAYS BUY ON THE 3RD HIT OF A TRENDLINE BECAUSE IT CONFIRMS MAJOR TRENDLINE AND IS THE MOST POWERFUL. INDICATORS SHOW PRICE TO BE OVERBOUGHT IN THIS AREA AS WELL. WHEN WE LOOK BACK AT THE CHARTS WE CAN SEE A HEAD AND SHOULDERS FORMATION FORM. WHEN WE FIB FROM THE HIGH TO THE LOW WE SEE THAT THE SHOULDERS ALINE PERFECTLY WITH THE 61.8 FIB ZONE.THIS WOULD BE EXTRA CONFLUENCE FOR US TRADERS. WHEN WE LOOK CLOSER TO PRICE ACTION WE CAN SEE A DOUBLE BOTTOM IS ABOUT TO BE COMPLETED ALONG WITH THE 3RD HIT OF A MAJOR TRENDLINE , NOT TO MENTION THE OVERSOLD AREA. THIS LOOKS LIKE A GREAT AREA TO BUY UNTIL PRICE HITS THE MAJOR 61.8 FIB ZONE ALONG WITH THE COMPLETION OF THE HEAD AND SHOULDERS FORMATION. ONCE PRICE HAS HIT THE 61.8 FIB ZONE THIS WOULD BE THE PERFECT PLACE TO SELL/SHORT THIS PAIR. I WOULD HIGHLY SUGGEST BUYING AT THIS ZONE AND THEN SELLING ONCE THE 61.8 FIB IS HIT. TRADE WITH CAUTION AND GOOD LUCK
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