Time for some NZD bulls in this currency pair.
Technically, in the , it is clear that a break out trade is in play. First, notice that support out on 15.09.2017, after that price corrected higher as a buy signal was printed after 02.10.2017. Between 19.10.2017 and 25.10.2017, there was congestion and a consolidation in the lower time frame which retested the support now resistance at around 1.13. From there on-wards, check out that trickle down and a respect of minor resistance at 1.12. Yesterday, price action closed as an inverted and made lower lows relative to the upper BB. Furthermore, notice that divergence between price action and stochastics. It is now time to sell and I will trade as follows:
Stop Loss: 1.125
Take Profit: 1.05-1.08
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