MEX_Exchange
Short

NZDUSD broken major support, prepare for the drop

FX:NZDUSD   Neuseeländischer Dollar / US-Dollar
Sell below 07283. Stop loss at 0.7349. Take profit at 0.7188.
Reason for the trading strategy (technically):
Price has finally broken our major support-turned-resistance level at 0.7283 ( Fibonacci retracement , horizontal swing low support) triggering a bearish move to 0.7188 support ( Fibonacci retracement , horizontal pullback support).
RSI (34) sees a bearish exit of our long term ascending support-turned-resistance line and also a break below our 51% support signalling a big drop from here.

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Sell now?
Antworten
AkiraJimbo mazin88
@mazin88, Wait, I'm pretty sure it will go down more, there are big resistance from the .236 fibonnacci uptrend level
Antworten
mazin88 AkiraJimbo
@AkiraJimbo, thank you
Antworten
It seems going up now... should we still hold?
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@AshaDi, I think this is a good sell level, given that is near previous resistance support
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@AshaDi, I would have esid 'yes', in hindsight and all that. Anyway I was stopped out and the news out of NZ looked good yesterday. Oh, so that would have friven the NZD up? This stuff always consuses me. I confess I did not check the Forex Factory yesterday... when I was stopped out ...
:45pm NZD

Employment Change q/q
0.5% 0.4% 2.2%
NZD

Unemployment Rate
4.5% 4.7% 4.6%
Antworten
AshaDi Glendooie
@Glendooie, i got really sick last nite, fallen asleep... missed out...good at sl... meh... sad
+1 Antworten
@AshaDi, Sorry to hear that dude :-( Tomorrow is another day - never forget
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AshaDi Glendooie
@Glendooie, anyway moved to gbpusd now, any opinion?
+1 Antworten
@AshaDi, Eeeek, I saw your message 2:25 NZAST. I never got into that GMT stuff, but I ought to. I can't remember what happened t0 GBP/USD
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