Hey Traders. Here is another piece of analysis for you guys, this time on #NZDUSD. This is a two part trade as I have indicated on the chart. Overall the long term bias is bullish, so this is just short to medium term analysis on this pair of what I expect to happen within the coming week. We have breached a major 4H zone, of which what looks to be a retest is taking place, we also bounced off the trendline under the zone. As I have indicated, I expect a bigger pullback to come of this analysis all the way up to the previous zone between 0.67271 and 0.67098 which is also my prospective sell area depending on price action around this area. Should price action confirm a sell, then I shall ride this wave all the way down to a 1st Profit Target of 0.65900 and a 2nd Profit Target of 0.65300. Happy Trading. Comments & suggestions are always appreciated, trade cautiously.
Trade closed: target reached