The New Zealand Dollar.

Good afternoon Dynamic Traders,

Todays chart is of the NZD.

After last nights webinar, the uptrend could be scrutinised as questionable, and a proper entry for the continuation would be above the recent swing high of the 2nd of June and the former support line using your entry technique.

AdvancedGet is showing a possible wave 5 in progress but at this level at the moment we are also showing a fibonacci extension level and DT with divergence on the MACD.

Breaks of this area could lead to further upward movement with the figure, further extension points and the EW 5 projection north, whilst a breakdown could have the downtrend ressuming.

Be patient and wait for the market to tip its hand and enter accordingly.

As always please ensure to do your own analysis before taking any trades.

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.