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Short

NZDUSD - Bears Still Holding

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
264 4 15
Greetings Fellow Traders,

I'm not going to go as in depth as I did with AUDUSD             - You're welcome to view that analysis in my profile as these setups are very similar.

A couple of the key differences that I would bring to attention with NZDUSD             is that it is more bearish than it's Oceanic Partner Australia.

The Friday rise began after it was in the process of confirming the necessary break to move to yearly lows. The rise however was stopped at the short term bearish strength which at this point holds a significant buffer between the daily and weekly bearish strength trend line . All 3 of these are pictured.

NZDUSD             remains bearish until a daily close can be made above .67000 a move back into the upper .65s is all that will be needed to begin the true sell movement that I've been looking for.

Feel free to comment/like/follow
Pin bar formed at the last bar right? Should we look out for an entry at the break out on the downside?
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im bear for that pair too! we are sharing very similar analysis on the pair!
+1 Reply
Synapse DAVID_GIRALDO
Awesome - It still looks like it's going to be a good trade! This one just seems to be taking a little longer than expected - timing is something that is very hard to predict in the markets. Thanks again!
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deffinetly. looking for wave 3 for bears on the weekly. we have 2 very nice previous so a good entry on a 3rd can be very profitable. the question is when and where cause as you say timing is very hard to predict
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