NZDUSD – Selling Rallies Preferred

Guest Post by Nicola Delic

The New Zealand Dollar suffered heavy losses recently against the US dollar, and it might continue to trade lower in the near term. There was a critical economic release lined up today, as the New Zealand Employment Change was published by the Statistics New Zealand. It came in at 0.3% in Q2, 2015, lower than the expectation. It increased the bearish pressure on the pair in the short term.

There is a chance that the NZDUSD pair would spike lower to set a new low. So, if the pair corrects higher in three waves higher, then we can look for a sell opportunity.

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Technical Analysis

H4 – Chart representing the possibility of a new low in NZDUSD.

Entry:

H1 – We can enter a sell trade once the NZDUSD pair corrects higher in three waves up close to the 0.6570 area.

Target 1: 0.6460
Target 2: 0.6420
Stop Loss: Above 0.6620

Video Explanation:

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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.