Greetings Fellow Traders,
NZDUSD provided a good buying opportunity yesterday - however since then we've managed to create some structure on to a level that was used for a recent selling opportunity. The weekly bearish trend line.
I will be looking for strong bearish pressure with NZDUSD between .6690 and .6710...Any time spent above .67000 should be kept to a decent minimum.
Confirmation entries can be made with a 15 minute candle close below the bullish strength lines indicated.
Targets for this trade will be left towards just below .66000 at which point we will look to determine whether or not the market is ready for a move to .6420 key technical level.
Feel free to transpose this analysis over to AUDUSD as well, and their respective crosses (GBPNZD, EURNZD) you may find many similarities.
Feel free to comment/like/follow.
NZDUSD provided a good buying opportunity yesterday - however since then we've managed to create some structure on to a level that was used for a recent selling opportunity. The weekly bearish trend line.
I will be looking for strong bearish pressure with NZDUSD between .6690 and .6710...Any time spent above .67000 should be kept to a decent minimum.
Confirmation entries can be made with a 15 minute candle close below the bullish strength lines indicated.
Targets for this trade will be left towards just below .66000 at which point we will look to determine whether or not the market is ready for a move to .6420 key technical level.
Feel free to transpose this analysis over to AUDUSD as well, and their respective crosses (GBPNZD, EURNZD) you may find many similarities.
Feel free to comment/like/follow.
