Hello traders, I am back with another trade for all of you. This one I have put quite a little bit of time into and I think I have a fairly good forecast. As you should know nzdusd
has been quite bullish
for the past little bit. I always try to trade in the direction unless I in no way can. Anyways, according to my trendline
, the kiwi is getting ready to shoot back up again. Also, when looking at the stochastic
, you can see that there is currently bullish divergence
. One more thing that sells the deal for me is that the 200 day moving average is currently below the pair which commonly can act as structure which gives me a good spot to place stops. Don't expect a move all the way up to the next trendline
in this leg but I feel that just under the .236 retracement is the best place to take profits. Thanks all!