AlexxChan
Long

Long on NZDUSD retracement!

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
SHORT TERM ANALYSIS: (LONG)
After a break of a major bullish trend line , NZDUSD             finally looks like it's going to come down. However a quick scalp could be made off the retracement being forming for an approximately 25-30 pip move.

LONG TERM ANALYSIS: (SHORT)
NZDUSD             had been going on a bullish run a while now, and it stop near perfectly at the 0.68610 for a beautiful drop. Is a double top potentially forming?? If so, we could see NZDUSD             drop very quickly in the next few days.

Long @ 0.67634
T/p @ 0.67880
Stop @ 0.67450
Trade closed: stop reached
Comment: A proper retracement did not seem it will form. The bear seem highly in control
I agree with this. I don't know how high it will bounce but this looks certainly bearish for the longer term. RSI just plunged and MACD confirmed a new trend also. The question will be.. how low will it go? Back to 0.6421 or even lower to 0.6281?
+1 Reply
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