NZD/USD Tight Consolidation

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DailyFX.com –

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NZD/USD Tight Consolidation

Chart Prepared by Jamie Saettele, CMT

Automate trades with Mirror Trader and see ideas on other USD crosses

-Since breaking the September-November trendline, NZD/USD triggered a double top with weakness below the November low. However, the 1/20 reversal and subsequent follow through casts double on the validity of the downside…at least in the near term. With price continuing to hold the November low, beware of a run on .6615 or so (support from October).

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

original sourceDailyFX.com –

Daily

NZD/USD Tight Consolidation

Chart Prepared by Jamie Saettele, CMT

Automate trades with Mirror Trader and see ideas on other USD crosses

-Since breaking the September-November trendline, NZD/USD triggered a double top with weakness below the November low. However, the 1/20 reversal and subsequent follow through casts double on the validity of the downside…at least in the near term. With price continuing to hold the November low, beware of a run on .6615 or so (support from October).

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

original source
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