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Target 1: 0,66590
Target 2: 0,66300
Target 3: 0,66010
Stop-Loss: 35 pips
Risk: 0,5% -1%
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NzdUsd found strong support above 0.65 important figure and the rise from there is constructive.
Now the pair is trading above 0.6650 short-term resistance and we can have a new challenge of 0.68.
Buy as long as the price is above 0.6650 is my preferred scenario
Yesterday NzdUsd reached my sell zone between 0.6630 and 0.6650, the point where sellers aggressively took control.
The day finished with a nice Pin Bar from this zone and also in-line with the medium-term trend.
My first target for this pair is 0.65 zone and in my opinion corrective rallies above 0.66 should be sold
Hi all traders,
I have previously made a video analysis on nzdusd.
We got the move that i have informed and now im looking for the continuation part of it.
Take note of the levels and how to trade it.
Hope it helps all of you in your trading.
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Yesterday, NzdUsd dropped hard from under 0.67 resistance. The pair stopped in ascending trend line support, but, considering that DXY is bullish I expect this support to be broken.
This correction could be a good opportunity for sellers and 0.65 zone could be the target.
The counter has formed a double top pattern in the short-term.
Further, it has broken down with a strong bearish candle.
The formation interpreted a solid distribution around 0.667 levels.
Hence, we expect the pair to slide down from here.
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NZDUSD has firmly broken the trend line which is holding the bullish trend since September 25 The broke and retest was happened on October 06 which triggered the further selling of NZD dollar.
The price action for NzdUsd in the past months looks like a H&S into forming (not confirmed yet)
After the double top (which forms now the head) the pair dropped to 0.65 zone where now is the neck line.
With a great possibility for Usd to be strong in the next period, Kiwi is vulnerable and a break under the neckline would provide us confirmation for the change of...