NZDUSD Short to Long

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
45 0 6
NZDUSD             always retraces to breakout levels sooner or later. We have one that has not been revisited yet at .7121. This is definitely a longer term view on the pair, but I don't think we are ready to break down into new low territory just yet. I would assume a break of channel after a touch off the top of the ascending channel . Right now if we were to break the channel, it would happen off a bounce off the bottom of the channel.

I can't ignore the downward movement and the break of the minor channel, so I will remain short for now. However, I still believe that this pair is set to move higher especially with the reversal pattern that's emerged within this channel. So, I'm going short to .6573, then check PA to see if a long is good there. If so, then the long I will hold up towards the .7200 levels. This also goes in line with my beliefs on DXY             . We should see a move higher up to hit the descending channel , and then a drop for new lows, which would catapult NZDUSD             to make that move higher towards the upper ascending channel I have in the charts. No real trades here, just food for thought.

Related Ideas

EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out