Hey folks,
I’d like to start some analysis chit chat for the NZD/USD. I’ll post my personal technical analysis. I invite people to add their own technical analysis or critique mine. Also, feel free to add fundamental/sentimental analysis. I’ll try to post every time that I see a good trade forming.
sounds good to me. I will be looking forward to adding as we go. I dont trade the kiwi to much but it very closely correlates with my favorite pair the aussie/dollar. So with that in mind I watch this pair very closely. Welcome to babypips and to the comdolls section of the site.
This is a 4hr chart. I think the price of this pair will ultimately continue to go upwards. However, the price seems to be consolidating right now, so we may see the price drop to as low as the 38% fibo in the short term. It may be safest to set a buy order when the price breaks past the current resistance (0.8065) or to buy on a downswing. There are 200-300pips or more up for grabs when the price breaks past resistance. Go long when there is a good entry point.
Plan: Long. Target @ 0.8226 and 0.8339. SL set below the 38% fib (~0.7819). Time frame of trade is 1-6 weeks.
Cool deal, I’ll look forward to your insight! It’d be great to hear what you think works well for the comdolls and what doesn’t.
I will probably add an AUDUSD technical analysis thread at some point if it isn’t already there.
I’d like to add that if the price drops below the 38%fibo then I’ll want to reevaluate my plan.