Categories: Forex Education

NZDUSD found a bottom?

The steady down move we’ve been following might be near its end. The continuing divergence well spotted on the D1 chart puts bullish pressure on the pair. Additionally there was a false break of the 0.6880 level. So as long as 0.6830 holds we should be looking for buy opportunities.
Keep in mind the market is extremely sensitive due to the situation in Greece. If you are not sure about a setup better skip it. Only take the most clear and obvious setups and use smaller risk than usual if needed.

Technical Analysis:

D1 – bearish divergence, false break

Entry:
There are two scenarios for an entry here.

Scenario 1 H1 chart:
Break above the trend line
Target 1: 0.6960
Target 2: 0.700
Stop Loss: below 0.6880

Scenario 2 M15 chart:
Look for double wave correction and then go for a buy.
Target 1: 0.6820
Target 2: 0.6960
Stop Loss: below 0.6850

Video Explanation:

Yours,
Vladimir

Vladimir Ribakov

Following 11+ years of trading experience, trading my own accounts as well as for hedge funds and brokerages, I have decided to fulfill my destiny and to personally mentor Forex and Commodities traders. When I released the “Broker Nightmare” (software that hides trades from brokers) 8 years ago, I found an overwhelming number of frustrated people who genuinely wanted to learn how to trade the Forex market, but instead found themselves scammed and misled. Over the years I have also release other trading systems based on my trading strategies, and met a lot of people on my worldwide Forex seminars. We’ve formed a close Forex community and we meet once or twice a year in various locations in Europe.