Trade77; NZDUSD Bounced off the Trendlines 7am


Hello Traders, I’m Mani and I’m the writer of Trade 77 section, please follow me on twitter for further updates.

2 hours ago I mentioned in twitter that Kiwi bounced off the trendlines, one of them is the former daily trendline and the other one is a new H4 trendline.

It’s better to wait for a small retrace and then board on the bust to the south. My targets are 0.7430, 0.7400 and 0.7350 and stop would be above 0.7510.
Look to close some portions of your positions at the first target and move the stop to BE.

In the hourly chart above you can see that 20sma and a trendline is on the way:

It’s better to go short after this hourly trendline was broken or after a bounce off this trendline you should go short and add to your short positions after an hourly candle closed below the trendline.

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.

Great Thanks

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  • Anonymous

    In response to this comment just wanted to mention that NZDUSD reached my target of 0.7430 and still it is in a downtrend.
    Thanks for your comment.

  • Anonymous

    Peter, Thanks for reading the article and commenting as well.

  • Remery18

    you guys are wack…..nzd/usd is a clear weekly and daily uptrend…..short at your oen peril.

  • peter

    that was aperfec set up 4 nzusd iam however waiting 4 a retest of the trendline since i missed the bounce