Hello Traders, I’m Mani and I’m the writer of Trade 77 section, please follow me on twitter for further updates.
Kiwi, Aussie and Euro are now again correlated to each other and have named as biggest losers this week while they are still falling sharply. Better than expected US news has empowered Greenback bulls and now traders are waiting for another positive news today as we have Unemployment Claims on 8:30 EST.
On the hourly timeframe of NZDUSD we have a steep trendline which shows how much momentum we have to the downside.
If you are waiting for a long setup then you have to wait for the price to go above this trendline before considering any long setups.
Next support levels would be 0.7545 and 0.7500 which are H4 200sma and H4 trendline:
Before taking any positions just wait for the news and the market to calm down and then consider to board on the pair. Bias is bearish now and I expect more falls right at the news.
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Winner’s Edge Trading, as seen on: