NZDUSD has a nice swing trade opportunity that can evolve into a continuation of the weekly uptrend.
Buy a break of the last session's high, stop at the low. I copied a previous rally, after the weekly got oversold to get an idea of what to expect.
The price tested Brexit support as well as an inside trendline in the weekly, so I think it's highly probable to get a sharp rally out of this zone, specially with China coming back from a week of public holidays, which will bring fresh demand for commodities, boosting asian currencies and metals.
Good luck,
Ivan Labrie.
Buy a break of the last session's high, stop at the low. I copied a previous rally, after the weekly got oversold to get an idea of what to expect.
The price tested Brexit support as well as an inside trendline in the weekly, so I think it's highly probable to get a sharp rally out of this zone, specially with China coming back from a week of public holidays, which will bring fresh demand for commodities, boosting asian currencies and metals.
Good luck,
Ivan Labrie.
Comment:
We're short since support didn't hold.
We're short since support didn't hold.
Trade closed manually:
Cover short.
It has to hold and not make a new daily low to remain bullish.