Friday, November 1, 2013

Looking to take a NZDUSD long

I have had my eye on Kiwi for a couple of days now and wrote an article about how many technical factors were lining up for the trade

we can see a strong uptrend in the daily NZDUSD chart. The trend started at the end of August at 0.7718 from below the 200-day simple moving average crossed above the 200-SMA on 9/16 and reached a high of 0.8434 on 9/19. Traders who missed the over 700 pip move had a second chance to join this powerful trend as NZDUSD retraced back and bounc