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.
To understand Take a look at my DXY update. Should be a good area to short. Low risk involved. To Will post a picture, looks like we are in the 5th wave on the elliot wave.
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...
Fundamentally: increasing monetary policy divergence between the Fed and RBNZ. Technically: the Kiwi has broken its 2016 uptrend, and is retesting the underside of the 2016 trendline. Fair value is around 0.65 given the current economic outlook for NZ and USA.
RBNZ has not changed its dovish stance. Fed remains hawkish. NZDUSD showing divergence to 0.7322. Strong resistance on 4H chart. Many major banks forecast NZDUSD below 0.70 in medium term. This currency pair is a sell at spot.
ON THE DAILY CHART WE HAVE A SIMPLE TRADE. WAIT FOR PRICE TO GO BACK TO 0.70634. SELL JUST BELOW 0.70634 WITH A STOP LOSS JUST ABOVE 0.71238. NO PROFIT TARGET SET. LET THE PIPS COME TO YOU.
NZD/USD is now trading in the middle of the .68400-.70500 range. Look to shor t around the .70400-.70500 area and take profit down range support around .68400-.68500 . Stop loss 50 pips away from entry price .
Short now, SL at 0.7060 and TP at 0.6950. Good risk : reward. Fairly aggressive trade. I train traders to be successful full time forex traders at : www.TheForexArmy.com