Dynamic Trader Forex Blog FXCPS.co.uk: Kiwi Suprise !

Good Evening / Morning Dynamic Traders

"Better to have tried and failed, than not tried at all"

Cross = NZD : DAY Chart (Posted Below)

Fresh from the weekend break, I would like to congratulate my fellow blogger Clayton for his decision to go full-time "Forex Trader".The difference between ordinary and extra ordinary is that "little extra" and I know Clayton has what it's takes. Enjoy the journey.

I have decided to look closely at a cross that normally does not enter my basket the NZD, which has some traits similar to the AUD.

It has been in a down trend since Feb 2008 and currently on the day chart is in a pull-back to a fib breather level which could be a convenient time to enter the trade as it turns in search of a new lower low.

Stochastics are in the OB area and about to turn down, RSI is turning shy of the 60 area and MACD was showing convergence which would have accounted for the recent run of green candles.

Todays candle has started possitive and yesterdays (Mondays) almost touched the breather level, therefore we may still have a touch of upwards movement before the turn takes place. Be patient wiith this cross.