NickLindleyFx

Long term NZD/USD long idea

Long
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
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1
I like the look of this play on the higher time frames. Although I've missed my personal entry preference I still think this pair will go higher and complete a long term ABCD pattern . The C leg formed on the 50% fibonacci level which coincided with the weekly key level of 0.6830 and formed strong weekly candles from this level. this could give us the fuel to penetrate the key resistance at 0.7460 and create new highs at the 0.7700 weekly level. For an entry on this pair I would like to see a deeper retracement before entering however my bias, over the longer term, is long!

Comments

After checking over the chart today (03/06/17) my bias still remains bullish with my original long term target creating the finishing D leg. unfortunately I missed my opportunity for an entry this week and price has been running away. I won't be opening a position on this unless we see a Deep, valid retracement.
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