forexTrdr NZDUSD - TWEEZER BOTTOM BOUNCE FOR KIWI
Updated
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
find us on instagram, twitter and Alexa flash briefings
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
find us on instagram, twitter and Alexa flash briefings
Trade closed: target reached
As we predicted.
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