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Forex Strategy: NZD/USD Top Taking Shape

Forex Strategy: NZD/USD Top Taking Shape

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • NZD/USD Technical Strategy: Pending short, waiting for attractive risk/reward
  • Prices turned lower as expected after putting in a Bearish Engulfing candle pattern
  • Closing below support at 8214 (38.2% Fib ret.) exposes 0.8112 (50% Fib ret.)

Confirm your chart-based trade setups with the Technical Analyzer.

Forex_Strategy_NZDUSD_Top_Taking_Shape_body_Picture_5.png, Forex Strategy: NZD/USD Top Taking Shape

Weekly Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

Contact and follow Ilya on Twitter: @IlyaSpivak

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