forexTrdr
Long

forexTrdr NZDUSD - TWEEZER BOTTOM BOUNCE FOR KIWI

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Morning traders

Another start to the week. Monday 17th of June lets go.

Following a very successful short on Gold on Friday from 1354 down to current market at 1333 for our team we are looking for our next winning trade.

Today we are taking a look at a bullish setup on New Zealand dollar versus US dollar following the formation of a Tweezer Bottom candle pattern on the daily chart . What this points to is a reversal of the bearish trend that we had last week. This lines up with RSI being in extreme oversold levels last seen at the end of April and resulted in an 80 pip move higher for the pair.

We are therefore looking for the pair to follow a similar pattern back towards resistance around 0.66 as per our trading view chart where we have highlighted all of the areas of interest.


Good luck trading

from the Team at forexTrdr



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Trade closed: target reached: As we predicted.
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