Tradeciety

Reversal trade in the making

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
96 0 4
The NZDUSD             has gained our attention. The Kiwi is currently the strongest pair against the USD which lead to this week's rally.

The NZDUSD             just arrived at its supply zone at 0.668 which also completed the Fibonacci sequence.

It currently missing the momentum divergence and the price pattern is not really convincing either. At this point, we are waiting for a new and shorter bullish trend wave which would very likely lead to a momentum divergence and also trap traders who shorted too early.

The NDZUSD is not a short yet but it's a pair we keep a close eye on. We discuss the 4 elements of a good reversal trade here: http://www.tradeciety.com/reversal-trading-advanced-trading-strategy/
The Kiwi is close to setting up a nice trade.
I am trading Forex for 10 years and 5 years ago I quit my corporate job to travel the world


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