NZD correction path

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
Is this correction strong enough to break the long-term trendline?

I don't think so, that's why this trade is in place.

Forex is risky, beware of consequences if you trade on other people's ideas.
Well it is now out of the multi week down channel to the you are looking at .7 or better before you will get any major move back opinion...
+1 Reply
Ice_ RobbyWestHouston
At the same time I agree with you, I have my doubts, NZD could see further downside and correct itself to the inner chnanel. I'm not risking 1% of my equity on this trade (is less than that) because of that tho.
Its cool when two traders have the same idea! Good work lets see what it does from here! Check my chart out if you get a chance your support means alot!

Will we sell off from this level again?
+1 Reply
Ice_ SmartTradingFX
Upvoted man. The problem is that we got stopped, it seems. No more bearish trades on NZD until it reaches a decent high.
Spiking as we speak! Fortuantly there wasnt enough there for me to enter so im not short this as of yet just waiting to see what this next hourly candle does!.
+1 Reply
Ice_ SmartTradingFX
Good. :)
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