NZD/USD Bullish Bounce Targeting 0.6790 and 0.6820

NZD/USD Bullish Bounce Targeting 0.6790 and 0.6820

Hi traders,

The NZD/USD has made a trend change after the double trend line break to the upside around 0.6880. A failure to close below formed a wave of fresh buyers.

A retracement to POC zone 0.6710-20 could be used for buying into the dip. Targets are 0.6760, 0.6790 and 0.6820. It should happen after a retracement. If we don’t see any retracement, then a close above 0.6790 is needed for a further continuation up.

The ATR of the NZD/USD is not high, the movement is slower so patience is needed for a setup to develop.

(The analysis has been made by ecs.CAMMACD.MTF trading template)

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

Published by

Nenad Kerkez

Nenad Kerkez is an analyst and trader who has been in the market since 2008 and works closely with Admiral Markets as their Senior Lecturer and Market Analyst. Nenad covers over 25 currencies on an intraday basis and has a Masters in economics. He also developed CAMMACD TM, a proprietary trading and analysis strategy wit ever powerful pre fact setups that you can read every day. Nenad is also a valuable presenter on various FX EXPO shows, where he always presents new and interesting ways how to trade price action and protect your own investments. Further, he is the co-founder and head of Elite Currensea Trading, an educational website for currency traders.