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NZDUSD: Sell Entry Sought Below 0.8370

NZDUSD: Sell Entry Sought Below 0.8370

2011-09-05 01:38:00
Ilya Spivak, Sr. Currency Strategist
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Strategy: Pending Short

NZDUSD put in a bearish Evening Star candlestick pattern on a retest of support-turned-resistance at a rising trend line set from mid-March, hinting a move lower is ahead. We will look for a break of minor support at the intersection of a trend line set from the August 9 swing low and a horizontal pivot at 0.8369 as confirmation to actively seek out selling opportunities.

NZDUSD_Sell_Entry_Sought_Below_0.8370_body_Picture_5.png, NZDUSD: Sell Entry Sought Below 0.8370

To discuss these strategies with other traders, please visit the Candlestick Forum

To receive future articles by email, please contact Ilya at ispivak@dailyfx.com

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