(Tuesday October 31st) i Trader, we're seeing a long opportunity on this pair today. Plus, there's a special discount inside...
NZD/JPY | Direction: Long (Extra spooky discount on trade alerts below) |
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NZD/JPY has been trading lower within a channel since the high back in December 2014. If you use the same slope and width than the upper channel and set it below the upper channel, then price found support on the lower channel's line on two previous occasions. Price, therefore, seems to be operating within the downward sloping angle and widths of these channels.
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Price may be correcting higher and is nearing the center line of our channel. That center line also intersects with an upper median line and a previous level where a low formed (red dashed line). If price can make it into the 70.10 – 70.85 price zone and give us an entry confirmation signal, then we would like to go short with a stop set at 72.10 and two downside targets of 68.05 and 66.65. |
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Thanks for reading today's Trade Report. This was a preview of my Trade Forecast service. Learn about a spooky discount and get an ENTIRE YEAR OF of Forecasts for FREE! Act fast because this deal is gone tomorrow. |
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