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NZD/USD Trade is a Short Term Base

NZD/USD Trade is a Short Term Base

2016-01-28 21:08:00
Jamie Saettele, CMT, Sr. Technical Strategist
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NZD/USD Trade is a Short Term Base

Chart Prepared by Jamie Saettele, CMT

Automate trades with Mirror Trader and see ideas on other USD crosses

-Since breaking the September-November trendline, NZD/USD triggered a double top with weakness below the November low. However, the 1/20 reversal and subsequent follow through casts double on the validity of the downside. The November low has influenced as support all week. As such, the pain is higher.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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