Screen Shot 2016-10-11 at 14.29.28

Hello traders this is a look at the NZDUSD on the daily chart as we have very little data today and good to look at some long term trades for your portfolio. OK what do we have as you can see we had a good fall and that is with the trend bias bearish. I have placed the Fibonacci tool on the chart and I am looking for this to pull back to the 38.2 level as that is also a psychological level and strong resistance, I am looking to enter at the price of a close below the 0.7190. We have some good support at the 0.6900 level, as I am looking to take profit at the zone and price of 0.6420.

I have to say this looks very good for a good trade, be patient and we will see how this works…….

Thank you traders and we will talk soon..William

FX Instructor Forex Blog – For Traders, By Traders

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.