FX:NZDUSD   New Zealand Dollar/U.S. Dollar
The market sold off and approaching key support zone 0.8400 (round number too). Price is slowly retracing up towards 0.8460 (now a resistance zone). Question is do you have the guts to short it from that level with key support coming very near down there and with the down move seems 'overextended'? For me, a correction upwards seems imminent from current level or 0.8400 level before further selling.

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Casey_Yeo
NZDUSD
Casey_Yeo about NZDUSD 9 2 years ago
CapnOscar
2 years ago
still needs to hit 0.8400 then correction
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Casey_Yeo CapnOscar
2 years ago
I do hope it goes down to 0.8400 before moving up of course. But anything is possible here.
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CapnOscar Casey_Yeo
2 years ago
well..but also keep in mind there maybe consolidation between 0.84100 and 0.84850 for some time before reversal.. just saying.
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Sam0101
2 years ago
casey what do u think for the current situation. It has reach new low n sounds a double bottom?
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Casey_Yeo Sam0101
2 years ago
Nothing to do as of now. Just watching where this sell off ends. 0.8400 is the bull's last line of defence.
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Sam0101 Casey_Yeo
2 years ago
is correction on ties way?
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Casey_Yeo Sam0101
2 years ago
No sign of that yet.
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Sam0101 Casey_Yeo
2 years ago
is that the flat us retail report has excites the bullish move of kiwi almost up to 40 pips in min? Is this also a sign shows that correction is on its way?
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Casey_Yeo Sam0101
2 years ago
GohSam, seems like you finally got the correction that you have been waiting for. Just curious what is your plan for this pair as you seem interested with when it is going to correct?
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Sam0101 Casey_Yeo
2 years ago
0.853 first rectification. I had been following this pair closely since when it at 0.88 til now. I been looking at least the correction will take effect last week. But this thing just take too long stay stationary for past few weeks.
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Casey_Yeo Sam0101
2 years ago
Your bias - short or long?
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MinervaFX Casey_Yeo
2 years ago
I would go long as it looks like a double bottom
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Casey_Yeo MinervaFX
2 years ago
Question is at which point you will go long? Resistance coming at 0.8530.
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MinervaFX Casey_Yeo
2 years ago
This could be one way
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MinervaFX
2 years ago
snapshot
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Sam0101
2 years ago
down to 0.846 (50% retracement) n retest 0.851 n then 0.853?
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Casey_Yeo Sam0101
2 years ago
0.8530 is the level to beat if bulls are going to pick up steam. Will be interested to look for false break at this level to go short.
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Sam0101 Casey_Yeo
2 years ago
False break at 0.853 ?
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Casey_Yeo Sam0101
2 years ago
Yes if I want to short in line with recent overall bearish trend.
snapshot
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Sam0101 Casey_Yeo
2 years ago
whats ur view in this. It has finally break into the downside.
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Casey_Yeo Sam0101
2 years ago
Just my humble thought that the major pairs are due for minor correction after the recent rally in USD. So obvious level to look for short here is 8400 level.
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Sam0101 Casey_Yeo
2 years ago
i was thinking a possibly rebound at 0.834 and also a correction before any further downside move.
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Casey_Yeo Sam0101
2 years ago
Possible. I will leave this pair alone at the moment. Currently stalking GBPUSD for possible rebound.
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Sam0101 Casey_Yeo
2 years ago
yeah n i been watching closely at ur GBPUSD chart. GOOD!
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Casey_Yeo Sam0101
2 years ago
Thanks Sam. Happy trading!
+1 Reply
Sam0101 Casey_Yeo
2 years ago
Hey Casey, do you still think kiwi is in bearish mode?
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