BulletProof
Long

Can NZD/USD regain its legs?

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
NZD/USD             has formed another higher low via a bullish pinbar at Key Support @84.250.
We are also rejecting the KEY trend line connecting the extreme lows on this pair.

I am looking to target the .86500 level as this is the .5-.618 fib retracement of the last down move. This would also coincide with a 50% retracement of the monthly bearish engulfing bar.

Dollar index             is poising for a retracement lower adding even more confluence to this trade.

Confluence in our favor.

1. Trading with dominant trend
2. Bullish Pinbar
3. Rejecting Key Support @ 84.250
4. Rejecting KEY Trend-Line
5. Higher low formed
6. Room to breath up to .86500
WinningTrader
2 years ago
100 Day MA & 50 Day MA around your target of .86500 also
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