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FxWirePro
Dec 10, 2014 8:13 AM

We prefer to go Short in NZD/USD  Short

New Zealand Dollar/U.S. DollarFXCM

Description

Short term trend: Bearish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 0.7684
Kijun-Sen level: 0.7714
Ichimoku cloud top: 0.7796
Ichimoku cloud bottom: 0.7829

NZD/USD has retreated after making high of 0.7760. Overall trend is weak as long as 0.7765 holds.
On the lower side minor support is around 0.766 and break below will target 0.7607/0.7550 (138.2% retracement of 0.76075 and 0.77606).
Long term trend reversal only above 0.7825 level.

Recommendation: Sell NZD/USD around 0.770, SL 0.7765, Target 0.7551.
Comments
Technician
You have a structured approach to analysis, good luck
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