NZDUSD - 2016 Brings the Bears

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
140 0 7
Greetings Fellow Traders,

Confirmation for a continuation to .69 and .71 was not received. I made a comment on the previous NZDUSD             analysis after Monday's trading that the trend of monday was very likely to continue into Tuesday's trading and beyond. You can see that analysis below.

With this week's trading already close to half over we're coming up to a very key level, should this level break we will be in a multi week downtrend continuation for the NZDUSD             (which could begin the GBPNZD             , EURNZD             and GBPAUD             bullish trends we've been keeping an eye on).

What to look for as we approach the line shown: Look for consolidation before, or a break and a retest of for an entry. Due to the severity of this move so far, let's keep it in perspective that consolidations may be limited. If the market ends up breaking this line this week, look for the retest to occur early next week.

I do not recommend any bullish NZDUSD             or bearish XXX/NZD trades - at this point in time I would consider either one of those high risk trades.

Like/Comment/Follow or add me on Telegram. This week has been very profitable already - more trades are always in the works.

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