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MEX_Exchange

NZDUSD bouncing up nicely, remain bullish for a further rise

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
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trendanalysis harmonicpatterns chartpattern nzdusd nzd usd nzdusdshort nzdusdlong nzdusdtrade nzdusddaily forex forextrading
Buy above 0.7336. Stop loss at 0.7305. Take profit at 0.7389.
Reason for the trading strategy (technically):
Price had bounced off our support level perfectly from yesterday. We remain bullish looking to buy on dips above 0.7336 (Fibonacci retracement, horizontal pullback support) for a further push up to at least 0.7389 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (34,5,3) is bouncing nicely off our 8% support and has good upside potential.
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