FX:NZDUSD seems to be completing its run up from the lows near 0.6350, and is forming a typical exhaustion Head and Shoulders Pattern, with a neckline near the uptrending trendline support near the 0.7120 region.
Trade Idea : Short FX:NZDUSD at 0.7100-0.7120 levels with a target price in the region of 0.6800-0.6820 region,...
The Kiwi dollar is reaching fresh 12-month highs this week, and spot prices may hit the $0.72 level within the next couple of trading sessions. In my chart, I've highlighted a channel with a slight upwards angle (compared to the sharp downtrend prior to June 2015) as well as the 38.2% Fib level (2014 highs to 2015 lows). This Fib level actually corresponds with an...
Im mostly looking to go long on this trade to ride its final 5th Wave up. But as for my aggresive trading nature I am keen on selling the breakout of the recent hourly trend which Im looking to get a 2:1 Return.
My TP for the Shorting trade will be 38.2% fib and thereon will be my Long setup for a 3:1 return with a TP at the recent highs or higher.
If you are...
Kiwi has risen sharply in recent days, mainly because of hawkish RBNZ statement. But here there is a real test for the bulls:
- A change of polarity zone
- Top area of the channel
I think the bulls will find it here to break this resistance.
Ali Sharif Azadeh, CFTe
NZD/USD is now trading in the middle of the .68400-.70500 range. Look to short around the .70400-.70500 area and take profit down range support around .68400-.68500. Stop loss 50 pips away from entry price.