NZDUSD: Downtrend's done
Updated
October marks month 6 of a very strong downtrend in the Kiwi.
We have many technicals, as well as interesting fundamentals suggesting dollar weakness for the rest of 2015, perhaps extending into June 2016. This fits in with the probability of retesting the mode in the coming 6 months this chart presents.
Currently, we have a weekly uptrend target on chart, and a nice range expansion week, so we can look to go long on retracements, shall we get a chance next week.
If you want to receive my live updates and trade reccomendations for all the setups that I find, make sure to follow me at collective2, check my profile for details.
Regards,
Ivan Labrie
Time at Mode FX
We have many technicals, as well as interesting fundamentals suggesting dollar weakness for the rest of 2015, perhaps extending into June 2016. This fits in with the probability of retesting the mode in the coming 6 months this chart presents.
Currently, we have a weekly uptrend target on chart, and a nice range expansion week, so we can look to go long on retracements, shall we get a chance next week.
If you want to receive my live updates and trade reccomendations for all the setups that I find, make sure to follow me at collective2, check my profile for details.
Regards,
Ivan Labrie
Time at Mode FX
Trade active
Placed pending orders to go long.Order cancelled
Cancelled pendings for now.Idea still valid, but need the daily to top and retrace first.
Note
Remarkably strong rally, it's interesting that the NZD50 index is also rallying with it. Capital flowing to New Zealand boosting its currency? Discuss...Note
Headed for the first weekly target. I'm long NZDJPY for now, and have a pending buy in AUDUSD.Note
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