Inside the Currency Market: NZD/USD

NZD/USD Current price trades at 0.6357 and already passed its overbought sell points at 0.6326 and 0.6336. The top of the channel is found at 0.6384 and 0.6390. To achieve 0.6384 and 0.6390, NZD/USD must break 0.6360 and 0.6363. But a range break exists at 0.6372 and a must break to see 0.6384 and 0.6390. A rough patch exist for NZD at 0.6360, 0.6363 and 0.6372 so we want to look for sells.

Bottom. 0.6288. Strategy. Sell 0.6360, 0.6363 unless 0.6372 breaks. Target met. at 0.6360 then short to 0.6342 and 0.6336.
Shorts must break 0.5320 to target 0.6304 then on the way down, 0.6312, 0.6309, 0.6307, 0.6296, 0.6288 Bottom.

Brian Twomey Inside the Currency Market, btwomey.com

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s