KVE
Short

NZD/USD: downtrend continuation?

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
196 3 6
Based on breakout out of recent consolidation below trendline ...
On to the next trendline , target 0.618 ext. of last move down, SL above swing high which re-tested the broken consolidation trendline ...
Comment: New idea after breakout:
NZD/USD: downtrend continuation?


Might wanna wait to get a better entry though, say around 0.6745...
Comment: It's slowly falling...
Low-risk traders can move SL to 0.6780

snapshot
Trade closed: stop reached: Too bad, waiting now, no reason to do anything at the moment...
Hi,,I think/ feel USD has slowed the down movement. Certainly turned gold in a hurry. If USD stops falling I feel this pair are a short....no chart just ideas.....
Reply
KVE PRO Ronnee
Yes, you are correct, it probably has, but still NU hasn't jumped up like UJ jumped down and Gold jumped up (Gold long and UJ short running...), I think the USD weakness might not last very long..., but we'll see...

Check out my recent UJ, UCAD, Gold an other idea's...

Anyway, the structure on NU is there and I think it will play out eventually... Nothing's certain of course...
Thanks for your comment!
Reply
Yeah, I think your charts here a right on the button.....the nz dollar is just to high and in my opinion not warranted. I have been short on this pair since Monday morning....was scalping short prior!! Thought our books would be worse than they are but fruit and tourism is not a lot to crow about!! It's milk and China I feel.....dollar should fall to 0.65/ even 0.64...... Certainly agree with chart. Matter of time........cheers Ron NZ.
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