NZDUSD – Price has to retrace lower

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NZDUSD – Price has to retrace lower

Trend: Buy Neutral

At the moment: Sell/ Neutral

Support/Resistance:
R2: 0.67176
R1: 0.66596
S1: 0.65910
S2: 0.65655
S3: 0.65449
S4: 0.64334

Price action:
In this case we can say nzdusd pair is similar to gbpusd currency pair because trending is still in buyers territory but potencial trade idea is more bearish then bullish. We can say buyers will wait for bearish retracement and then they will decide if they will be able to bounce the price back where is at this moment. We are expecting retracement to buyers support at 0.65655 level. If buyers will not show any bullish momentum, then following potencial sell idea is starting from retracement at 0.65449 new resistance level. This might be potencial trade idea to lower supports. On buyers side, if Nzd currency will show good performance and broke 0.66596 resistance level, then price has to test 0.67176 resistance level.


Potencial trade idea:

Bulls targets:
T1: 0.67176

Bears targets:
T1: 0.65655
T2: 121.751

NOTE – We are trading NZDUSD via the preferred trading setups by EliteFxAcademy


Disclaimer: Martin’s views on the Chart analysis is ment as a trading advice for education terms; Education terms include: trading consistency to everyone who is reading this blog; for every advance student and for every Elite student who is using this analysis for managing his equity by Elite strategy and custom indicator. This analysis is understandable and transparent for all Elite students. This is a free content which is based from Academy in term of transparency to support and following progress to everyone. We know that there is always possible way that market can pull you out even when you follow our analysis blog and advice for a trade. We don’t publish where you have to have your risk management – Stop Loss, because, it would not be fair to Elite members, who learned this techniques in our Elite course.


Keywords:
Elite strategy, Custom Indicator, Fundamental Analysis , Tehnical analysis, Price action, Advanced strategies, Trading Education

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