NZDUSD : Get inside both short and mid term bullish trend
The NZDUSD pair is fluctuating inside both short term and mid term upside trends, with the easily recognizable tops and bottoms that are oriented upside.
After a constructed drop in september and early october, NZDUSD has made a bounce at a great support point :
- The ascending trendline support that shows the pace of the mid term trend
- The 150 days moving average, which constitutes a dynamic support since March of this year.
Since that bounce, the short term construction is also bullish.
The current drop makes a great opportunity to enter long on this pair, with the following simple strategy :
- Open long under 0.7200
- Stop @ 0.7085 (below the previous bottom)
- Target @ 0.7380 (just bellow the previous top to make sure you get executed if the scenario is favorable)
Reward/Risk ratio = 1.56
This scenario is short term ; if the stop had to be reached then we would seek to enter later, for example near the major support.
After a constructed drop in september and early october, NZDUSD has made a bounce at a great support point :
- The ascending trendline support that shows the pace of the mid term trend
- The 150 days moving average, which constitutes a dynamic support since March of this year.
Since that bounce, the short term construction is also bullish.
The current drop makes a great opportunity to enter long on this pair, with the following simple strategy :
- Open long under 0.7200
- Stop @ 0.7085 (below the previous bottom)
- Target @ 0.7380 (just bellow the previous top to make sure you get executed if the scenario is favorable)
Reward/Risk ratio = 1.56
This scenario is short term ; if the stop had to be reached then we would seek to enter later, for example near the major support.