adriel.arrasmith
Long

NZDUSD Targets 0.75-0.77

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
NZDUSD             just held a major support area a few weeks back at the 0.70 level where we have channel support, a previous resistance/support area and a .786/.886 fib level of the previous leg up. We then proceeded to break/retest the current downtrend line from 0.75 to 0.70. I am long targeting 0.75 then 0.77. 0.71 is a great stop loss and our first target will yield a 7:1 risk/reward.
Comment: Although the USDOLLAR is bullish right now and I spoke about a short position in EURUSD. I still think the NZDUSD is a hold, with a stop loss below 0.73 below the recent pin bar. This will still allow the trade to run, which I still think has a lot more room to possibly go and the risk/reward is still great as well.
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out