Lanmar
Short

NZD on its way down

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
125 0 7
The highest I'm willing to enter short is .7290 if my stop gets breached. The probability this trades lower in the next few weeks/months is very high.

Intraday chart shows a good risk proposition for the daily position trade.
snapshot


Price could easily break above its current 1hr channel, so look for a fake-out to the upside to get short.

Past NZD big picture research shows price has retreated into my blue rectangle level. Chart below is still valid for an ultimate bottoming possibility in the low 60s.
Structural decline for NZDUSD. Further breakdown underway.
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