Kiwi news

Good Evening / Morning Dynamic Traders

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

Cross = NZD : 60min Chart (Posted Below)

With BIG news due out on Wednesday evening GMT, I have gone for the 60 min chart to see what is happening on a shorter time frame.

For those that did not read last nights full overview please press here to view.

You will see on the chart below the upward trend line that is from the DAY chart, giving support on current price, which is also sitting on a breather level measured from the last rise. If price drops through this support then a ESLT would be used to enter the trade on a Short.

However on viewing stochastic s which are below the 25 line indicating oversold, and checking MACD we see some convergence recently. This could lead to a bounce off our support line and price heading North in the not to distant future. The VI is to be watched as it patrols just above price.

Do your own analysis before entering a trade.















Courtesy of Advanced Get / E Signal

Trade with Passion

John Maher
Forex Analyst

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