NZDUSD - Bearish Continuation

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
535 8 22
Greetings Fellow Traders,

NZDUSD             managed to finish off the week on a bearish close below a key technical support I've been keeping my eye on. On the daily and weekly time frame I will be looking to enter short on NZDUSD             around .6590 to .6600, initial targets will be looked at by the 2015 lows and ultimate targets could be as low at .55-.57 based on the new bearish strength.

Watch for the daily/weekly next week to close above the .6620 area for any immediate concerns regarding this bearish opportunity.

Feel free to comment/like/follow

Any questions feel free to ask or start a discussion
Comment: Full Steam Ahead - Trade Entries were made - End of week likely to see aggressive selling starting tomorrow. .6375 initial level to secure
Wow, you were stop on! It went as high as .658 before tumbling. I got short at .656 and its looking good, all because of your analysis.
+1 Reply
Synapse GeneraldisastersInc
Thanks! Appreciate the feedback :) Glad I was able to assist in your trading.
nice analysis ! i do have the same conclusions. Cheers, Jesse
+1 Reply
Synapse SwissPips
Thanks for the comment and feedback! Cheers!
Nice, looking for a decent move off a retest.
+1 Reply
Synapse Forex-De-Lis
Agreed :) Nice Charts btw
Thanks. I try to keep them as plain as possible.

What do you think about AUDCAD?
+1 Reply
Synapse Forex-De-Lis
I've gone ahead and made an analysis for AUDCAD. I think you have the right idea with bulls longterm but I expect largely that bears will control the near future. I don't expect that AUDCAD will have any buying interest until we approach the .9700 levels. If we manage to break higher, I would look to buy on a retest.
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