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...
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New idea after breakout:
Might wanna wait to get a better entry though, say around 0.6745...
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It's slowly falling... Low-risk traders can move SL to 0.6780
Trade closed: stop reached
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Too bad, waiting now, no reason to do anything at the moment...
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Ronnee
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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.....
KVE
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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!
Ronnee
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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.