Monday, March 4, 2013

NZDUSD Breaking Channel NZDUSD Short Trade Plan
NZDUSD has recently broken the long held channel support. 

Pair was trading within the channel since July-end but the momentum wasn't enough to break the horizontal resistance at 0.8460/70. And it pushed the pair down. 

Currently pair has broken below the channel's lower trendline and it looks poised for more down move.

Pair has broken down 200EMA as well. I plan to fade any spikes towards channel. 0.8250/70 looks like a good area to short.

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