Monday, March 9, 2015
New Signal NZD/USD
*Position Update: As of 03/10/2015 @ 22:41 The Global Currency Scalper covered its position in NZD/USD with a gain of 20.0 Pips.
As of 03/09/2015 @ 19:47:
We have identified NZD/USD as a possible short trade. This pair has been under pressure since September of 2014 with a recent bounce to the 38.2% Fibonacci retracement level. It made a run to the 50% level which ultimately failed. The past few days have seen the sellers take control once again. We would like to go short this pair with a breach of it's short-term support which lies at the figure.
The Global Currency Scalper will be shorting NZD/USD with a break of 0.72750. Our forecast is 0.72150, with the next figure of 0.72000 in its sights. If that level can be taken out we could see 0.71700. Our stop will be placed with a break of 0.75350, if this pair trades to that level prior to initiating a position our trade will be cancelled and further evaluation will be needed.