MEX_Exchange
Short

NZDUSD broken major support, prepare for the drop

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Sell below 07283. Stop loss at 0.7349. Take profit at 0.7188.
Reason for the trading strategy (technically):
Price has finally broken our major support-turned-resistance level at 0.7283 ( Fibonacci retracement , horizontal swing low support) triggering a bearish move to 0.7188 support ( Fibonacci retracement , horizontal pullback support).
RSI (34) sees a bearish exit of our long term ascending support-turned-resistance line and also a break below our 51% support signalling a big drop from here.

https://telegram.me/fxtradingroom --> join the waiting list for our free live trading room!
Sell now?
Reply
AkiraJimbo mazin88
@mazin88, Wait, I'm pretty sure it will go down more, there are big resistance from the .236 fibonnacci uptrend level
Reply
mazin88 AkiraJimbo
@AkiraJimbo, thank you
Reply
It seems going up now... should we still hold?
Reply
@AshaDi, I think this is a good sell level, given that is near previous resistance support
Reply
@AshaDi, I would have esid 'yes', in hindsight and all that. Anyway I was stopped out and the news out of NZ looked good yesterday. Oh, so that would have friven the NZD up? This stuff always consuses me. I confess I did not check the Forex Factory yesterday... when I was stopped out ...
:45pm NZD

Employment Change q/q
0.5% 0.4% 2.2%
NZD

Unemployment Rate
4.5% 4.7% 4.6%
Reply
AshaDi Glendooie
@Glendooie, i got really sick last nite, fallen asleep... missed out...good at sl... meh... sad
+1 Reply
@AshaDi, Sorry to hear that dude :-( Tomorrow is another day - never forget
Reply
AshaDi Glendooie
@Glendooie, anyway moved to gbpusd now, any opinion?
+1 Reply
@AshaDi, Eeeek, I saw your message 2:25 NZAST. I never got into that GMT stuff, but I ought to. I can't remember what happened t0 GBP/USD
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out