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NZD/USD Resistance Near .8000 for a Sale

NZD/USD Resistance Near .8000 for a Sale

2013-08-13 22:43:00
Jamie Saettele, CMT, Sr. Technical Strategist
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4Hour

eliottWaves_nzd-usd_body_nzdusd.png, NZD/USD Resistance Near .8000 for a Sale

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Interested in automated trading with Mirror Trader?

FOREXAnalysis: “The NZDUSD has been consolidating since June 11th. It’s impossible to know if the consolidation leads to a reversal or continuation of longer term weakness but based on the corrective rally from the June low, it’s best to favor the downside until proven wrong.” Like the AUDUSD, a deeper setback is likely even if an important low is in place.

FOREXTrading Strategy: Order to short .8005, stop .8060, target half .7825

LEVELS: .7735 .7818 .7933 .8009 .8057 .8105

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