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MEX_Exchange
Nov 2, 2017 1:27 AM

NZDUSD bouncing perfectly, remain bullish Long

New Zealand Dollar/U.S. DollarFXCM

Description

Buy above 0.6821. Stop loss at 0.6720. Take profit at 0.7052.
Reason for the trading strategy (technically):
Price has started to bounce perfectly off our major support level as expected. We remain bullish looking to buy on dips above major support at 0.6821 (Fibonacci extension, horizontal swing low support) and we expect to see a nice bounce from this level to at least 0.7052 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,3,1) is seeing strong support above 4.3% and it is starting to turn up signalling a reversal.
Comments
arvinraj11
This trade still valid sir?
rmetz
@arvinraj11, I think trade is still valid ...because target is set as 0.7052.
This target is not reached at this moment.
arvinraj11
@rmetz, Thank you.. Sir
kohsalar
Thanks
LawrenceOyaniyi
Good work
raniyunan1207
Thanks for the good analysis once again!
hifeluryen
Thanks for your guidance sir..
zagumebopoq
Thanks for the analysis!
yisrwax
thanks for the analysis once again sir...
IvanArielRocha
Good Chart, I will take profit on 1.6935
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