Hello Traders, I’m Mani and I’m the writer of Trade 77 section, please follow me on twitter for further updates.
Kiwi is exactly at the daily trendline and a great support level at 0.7400:
Though my technical rules say that long setups here would be good yet my last COT report indicated that kiwi will fall more.
So for this dubious situation we have to wait for some confirmations.
For short case, I like it to go short below 0.7400 and for long case I will buy it above 0.7468.
Aggressive traders could go long exactly here right at 0.7400 with stop at 0.7360 and 0.7560 as ultimate target.
As a conclusion if you want to go short, then wait for the trendline and support level to be broken and go short after a retest of 0.7400 level and if you want to go long wait for the shelf to be broken and go long above 0.7468.
Make sure that you are following me on twitter so you can be informed of any trade calls for this pair and if you found this post useful let your followers to read it too, so please retweet this article with the button above of the article.
Latest posts by admin (see all)
- How To Plan a Trade From Start to Finish - May 3, 2016
- How To Trade The Eur/Usd Right Now - April 29, 2016
- Eur/Usd Could Move Higher Based off of Support Pin Bar - February 19, 2016
Winner’s Edge Trading, as seen on: