Kiwi

Good Evening / Morning Dynamic Traders

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

Cross = NZD : Day Chart (Posted Below)

I trust you all had a great week end and enjoyed some of the range of weather that only the UK can offer.

I have decided to revisit the NZD this week as the chart looks quite interesting.

If you have been following me of recent you will be aware we were following this cross. We had everything in line for a reversal and then we were hit with that unexpected candle, which totally ruined our analysis. I have circled this on the chart.

I have placed the support and resistance lines on the chart and the middle line was the previous resistance line we were following. You will see we had convergence prior to the recent up trend. You will also note the RN 5800 provided competition vs price. The histogram is currently decreasing on MACD and line is turning down. RSI has provided a double top and stochastic s have turned down.

With price now turned, a short position with little risk presents you an invitation.

As always do your own analysis before placing the trade.















Courtesy of Advanced Get / E Signal

Trade with Passion

John Maher
Forex Analyst



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