LONG NZDUSD to 0.71200 and higher targetLooking to take a long on NZDUSD and hold it for possibly longer than a week given the time of year and the distance it has to travel.
Entry: 0.70105
SL: 0.69792
TP: 0.71395
I will look to take something off of my position with 20 pips in profit and let the rest of the position run.
Stop-loss will be moved the breakeven once 50 pips in profit.
There is a chance that I missed the trade, if that is the case, then I will find another entry point since the profit objective is fare enough away.
I will add updates as the trade progresses.
Nzdusdanalysist
LONG NZDUSD Target at 0.71096 Looking to see if we can get another opportunity to enter in at 0.70670. I am expecting price to trade up into 0.71096.
The stop loss is placed at 0.70383
This will be a decent retracement from the current downtrend. It will be interesting to see what happened once we get above those relatively 3 equal highs.
NZDUSD Short To 0.685Our preference: short position below 0.6915 with targets at 0.6870 & 0.6850 in extension.
Alternative scenario: in excess of 0.6915, aim for a continuation of the increase with 0.6950 & 0.6970 in the line of fire.
Comment: as long as 0.6915 is resistance, trading range with a bearish bias.
NZDUSD Technical Outlook: Bearish Bias, Rejection from 200 EMANzdusd has rejected from 200 EMA on H4 time frame. This zone will be strong resistance for this pair in future. Now this pair is staying below near term resistance at 0.6970. Below this level, we can look for sell and target will be 0.6900 area as pointed on the chart.