NZD/USD 30-100 pips play ! (Short) Short

New Zealand Dollar/U.S. DollarFXCM

Description

⋅ Mar 25, 2016 11:08 PM

Prices did not hold double resistance (Tenkan Sen + Kijun Sen) today.

They should now test the top of KUMO, which is very thin suggesting that a change of trend could be easily done.

1st target = Weekly TS (orange)
2nd target = Top of KUMO (red)
3rd target = Weekly KS (purple)

Good luck

Comment

⋅ Apr 1, 2016 1:43 PM

Fail setup

Comments

aswam

⋅ Mar 26, 2016 1:46 AM

Looking at the Dollar Index (DXY) chart, I notice the confluence of several resistances such as monthly TS, Weekly KS flat along with SSB and the daily KS as shown. This also is around 50% Fib retracement of the last impulse downwards. So, my take is that the US Dollar could be bullish for the better part of next week losing momentum towards the end.

Re. NZD/USD the first and second targets may likely be hit.

Good luck!

aswam

⋅ Mar 26, 2016 5:42 PM

I'm sorry to have missed the following comment,
'Dollar being the dominant partner most of the dollar associated pairs could behave as above'

Cheers!