https://fxww.com/local-banks-recommends-short-term-nzdusd-shorts/ The Professional Source Fri, 01 Mar 2013 04:36:25 +0000 hourly 1 https://fxww.com/local-banks-recommends-short-term-nzdusd-shorts/#comment-16836 Fri, 01 Mar 2013 04:36:25 +0000 http://fxww.dreamhosters.com/?p=5970#comment-16836 Seems reasonable. NZUS has been ‘behaving’ Elliott wise recently. A very defined 5 wave decline, so the strategy is looking to short the ABC correction (specifically the C leg) into a target of .8340 (50% of completed wave 5). My only concern would be is .8360 too close for comfort. Not sure how he measures his profit take … but if short and it gets down there = happy days

]]> https://fxww.com/local-banks-recommends-short-term-nzdusd-shorts/#comment-16830 Fri, 01 Mar 2013 03:19:44 +0000 http://fxww.dreamhosters.com/?p=5970#comment-16830 Even though NZDUSD broke back through the major trendline at around 83.65 yesterday, there were two other minor trendlines that converged at around 83.20. If that level breaks cleanly, 83.6 is the 55 DMA. 81.50 looks to provide good support, being the 200 DMA and previous low since December.

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