Sunday, January 11, 2015

New Signal NZD/USD

*Signal Update:  The Global Currency Scalper is cancelling its open order on NZD/USD as recent action has traded below our stop price without filling our buy order.  Further evaluation on this pair will be needed at this time.

As of 01/11/2015 @ 19:20 EST:

We have identified NZD/USD as a potential long trade.  This pair could be in the process of putting in a 5 week double bottom which should result in a powerful up move.  The NZD/USD is currently hovering around the 23.6% Fibonacci level which is the first hurdle to overcome.  The Global Currency Scalper is looking for confirmation of the 5 week bottom before entering a long position.

We will be going long on a break of 0.78830 which the Global Currency Scalper will take as a confirmation signal of the bottom mentioned above.  Targets will be 0.79200, 0.79580 which is the 38.2% Fibonacci level, and 0.79750 which is the high set in November of 2014.  Stop will be set at a break of 0.77800, if this level is taken out prior to initiating a position our view will turn neutral and further evaluation will be needed.

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