NZDUSD Short covered
Talking Point:
Technical Strategy: Bearish
Elliottwave View: Bear count confirmed
Analysis
From our last December's analysis on NZDUSD (New Zealand dollar vs US dollar), nothing much changed. We are on bear trend count and able to break and trade outside corrective channel. We are considering as wave 2 wave and counting sub wave 3 for larger bear move. On shorter term wave cycle, we are considering bearish wave3 of 3 will continue and can target 6900 and below. We are now expecting channel breakout or some smaller correction in current price @ 6897.
Action
We are running short position @ 0.7035 and we closed our position here @ 6897 before we entered into vacation. To get more information on trade, please login into "Trade Signal" area.
-- By Hoagtrading.com (Twitter: hoagtrading)
Technical Strategy: Bearish
Elliottwave View: Bear count confirmed
Analysis
From our last December's analysis on NZDUSD (New Zealand dollar vs US dollar), nothing much changed. We are on bear trend count and able to break and trade outside corrective channel. We are considering as wave 2 wave and counting sub wave 3 for larger bear move. On shorter term wave cycle, we are considering bearish wave3 of 3 will continue and can target 6900 and below. We are now expecting channel breakout or some smaller correction in current price @ 6897.
Action
We are running short position @ 0.7035 and we closed our position here @ 6897 before we entered into vacation. To get more information on trade, please login into "Trade Signal" area.
-- By Hoagtrading.com (Twitter: hoagtrading)
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