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glennmercer

NZDUSD Short - Potential Breakout Play

Short
New Zealand Dollar / U.S. Dollar (FX:NZDUSD)  
glennmercer Updated   
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Trend Analysis Chart Patterns glennmercer gmercerfx
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1
trendanalysis chartpattern glennmercer gmercerfx
This pair is in a clear downtrend. I like the basing price action at support, usually a sign for strong breakout potential. Previous lows have been broken which could open the flood gates through Friday. I'll be selling at the break with SL above 20 SMA and following price action down after 1:1. Looking for 2:1 or higher. Cheers!
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