Categories: Forex Education

NZDUSD – Time to Buy Kiwi Dollar?

The Kiwi dollar suffered heavy losses recently against the US Dollar, and traded lower close to 0.6600. However, the NZDUSD pair managed to find buyers around the mentioned area and currently correcting higher. There is a bullish convergence formed on the 4-hours chart, and there is a bearish trend line break noted as well to open the doors for more upsides. So, let’s look for buy opportunities.
If the pair corrects in three waves lower and trades near a bullish trend line on the hourly chart, then we can enter a buy trade.
Technical Analysis

H4 – There is a trend line break noted, and a bullish convergence forming as well.

Entry:

H1 – We can enter a buy trade if the NZDUSD pair corrects in three waves lower and trades near a bullish trend line on the hourly chart.

Target 1: 0.6750
Target 2: 0.6800
Stop Loss: Below the highlighted support trend line on the hourly chart.

Video Explanation:

Yours,
Vlad

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.