A short position is taken. In the 4H time frame, the price keep building LH and also it was below descending komu. Also, it hit the weekly resistance, so I took a short position and put the TP on yesterday low.
R/R = 1:2.06
NZD is in key area, last candle in this chart as you can see closed below the 200 SMA.
MACD signal and the cross of SMA-50 and SMA-100 with the formation of of head and shoulders, could be strong indicator for this pair to tumble well below the level of 0.71750.
Fundamentals with the FED "talking about talking about tapering" with the U.S PMI flash came positive...
WE HAVE ANOTHER ANALYSIS SEEING THE DEMAND AND LIMIT ON SUPPLY FOR OIL PRODUCTION.
WE WERE ORIGINALLY SHORT EARLIER THIS WEEK NZDCAD BUT NOW FOR THE CORRECTION.
SO WE WILL SEE FROM HERE SHOULD LONG OR SHORTS CONTINUE BUT WE HAVE IT MARKED OUT.
OUR BIAS IS TO THE TO THE DOWNSIDE CONTINUED WITH A CORRECTION TO .91600-.91700
ABOVE THAT, BUYERS...
Just a few words about this trade, on bigger picture, Daily TF , you can see the end of correction also 400 and 200 EMA will act like a S/R.
I put my TP at the lower price of the day 0.63800, personally short this idea from 0.64522 and aim 666 PIPS, my SL at 0.64699 and my TP at 0.63856.
Have a good day
While a number of technicals point to a bit of an upside trend, this should be limited by short-term resistance followed by a correction back to the long two-year channel that has formed. Daily FX's Nick Cawley called this the trade of the year to short this pair. So far its not panning out. For more, check out www.anthonylaurence.wordpress.com
Hey guys. Heres a view of the next 1-2 weeks. As of right now Price will Continue to decline. (look at previous post. kiwi update) Once we reach the .69000 area we can expect a bounce. and a long term buy.
Short Term Sell.
Long Term Buy.
will kept you updated. Comment below. share your thoughts. Message me for questions.
Might not have the best cypher pattern, but it is very close (it is off by 0.02-0.03 in both extentions, but spot on the retracement).
We are at very crucial point as we are hitting multiple resistance lines around the 0.73 level. USD looks like it is going to continue its bull run and I think one of the best pairs to go Long USD is this one.
Again we have an...