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JohnFortune

NzdUsd - Large Capitulation Presents Bear Flag Opportunity

Short
New Zealand Dollar / U.S. Dollar (FX:NZDUSD)  
JohnFortune  
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Trend Analysis Chart Patterns Wave Analysis NZDUSD NZD USD Forex forexsignals newzealanddollar Technical Analysis technical_analysis FLAG
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trendanalysis chartpattern waveanalysis nzdusd nzd usd forex forexsignals newzealanddollar technicalanalysis technical_analysis flag
Last week the NzdUsd sold off heavily after news of a change of government in New Zealand reflecting a level of market uncertainty about continuity of New Zealand political policy. As a result we will be looking for a possible small channel to the upside, possibly with a re-test of broken support turning resistance at 0.70588, where we will look for Bearish formations and patterns to initiate shorts down to the targets of 0.68640 and 0.68217 respectively.
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