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MEX_Exchange

NZDUSD right on major support, remain bullish

Long
New Zealand Dollar / U.S. Dollar (FX:NZDUSD)  
MEX_Exchange  
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns NZDUSD NZD USD nzdusdshort nzdusdlong nzdusdtrade nzdusddaily Forex forextrading
2
0
trendanalysis harmonicpatterns chartpattern nzdusd nzd usd nzdusdshort nzdusdlong nzdusdtrade nzdusddaily forex forextrading
Buy above 0.7325. Stop loss at 0.7305. Take profit at 0.7389.
Reason for the trading strategy (technically):
Price is right on major support at 0.7325 (multiple Fibonacci extensions, horizontal swing low support, channel support) and we expect to see a bounce above this level for a push up to at least 0.7389 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic is seeing major support at 8% signalling that a short term correction is fast approaching.
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