Forex: NZD/USD Technical Analysis – Candle Setup Hints at Bounce
To receive Ilya's analysis directly via email, please SIGN UP HERE
- Bullish Engulfing pattern formed at rising trend line support set from November 2011
- Candle setup hints at gains. Initial resistance at seen at 0.7917 (23.6% Fib retracement)
- Reversal below the trend line (now at 0.7721) exposes the June 24 swing low at 0.7682
Confirm your chart-based trade setups with the Technical Analyzer.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.