Technician
Long

NZDUSD: Now at Juncture!

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
1548 23 23
The NZDUSD             was under very strong pressures, and reached all of my downside targets which i mentioned in my earlier forecaste for the pair, see related link below.

Watch-out, the price is a key technical juncture:
-Retested the long term 200-days SMA
-Retested the main rising trend line for the overall bullish trend
-Formed a bullish hammer at this key support area
-0.8415 is a key horizontal support

The odds are in favor of a bullish rebound, and therefore I expecting a move higher, targeting 0.8530 as an initial target. Alternatively, if we break lower below 0.8415 i would reverse my view, and look for more strong bearish bias.

Good luck , join me at https://twitter.com/thefxchannel
Also at my Facebook             page http://www.thefxchannel.com
My best regards,
Technician

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hey technician, is this the correction currently being progress and imposed
Reply
I am still long the NZD, its my view. I cant recommend it to anyone, which will be considered an investment advice.
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And finally it's moving GohSam :)
+2 Reply
Sam0101 Technician
Good call technician. 0.855 will be the resistance right? Do u hav any other platforms i can follow ?
Reply
Not really, all my ideas here are posted at https://twitter.com/thefxchannel . also at my facebook page : https://www.facebook.com/thefxchannel
Reply
I see next resistance around 0.8535
+1 Reply
Sam0101 Technician
down to 0.846 (50% retracement) n retest 0.851 n then 0.853?
Reply
Hopefully, nothing sure but i remain positive for now.
+1 Reply
Sam0101 Technician
Hi, the US news have impact Kiwi badly. What u think for now
Reply
Yes indeed, I am out of my long now, but technically 0.8400 support level is a key for now, watch carefully that support.
Reply
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