NZD/USD possible 2/3 Month long position
Following on from my first published idea which came true sooner than expected.
I have a new idea that this could reach my green zone, there has been a lot of activity at this level for the past few years, as the NZD has been strong for the past 7 weeks I expect this to start to drop, perhaps close to the down trend line I have visible on the chart. the up coming NFP could play a huge factor for this to happen by mid July.
if the current resistance line breaks within 4 weeks this would be the chance to go LONG.
I have a new idea that this could reach my green zone, there has been a lot of activity at this level for the past few years, as the NZD has been strong for the past 7 weeks I expect this to start to drop, perhaps close to the down trend line I have visible on the chart. the up coming NFP could play a huge factor for this to happen by mid July.
if the current resistance line breaks within 4 weeks this would be the chance to go LONG.
Comment:
*UPDATE* NZD has remained strong and hasn't retracted, however, if this week closes above the weekly resistance line we should be able expect the price to reach the 0.78000 price range shown on the charts sooner than expected.