Buy above 0.6985. Stop loss at 0.6934. Take profit at 0.7092.
Reason for the trading strategy (technically):
Price has bounced up perfectly from our buying area previously and is on track to our profit target. We remain bullish above 0.6985 support (Fibonacci retracement, horizontal overlap support) for a further push up to 0.7092 resistance (Fibonacci extension, Fibonacci retracement, horizontal overlap resistance).
RSI (34) has made a really nice bullish exit signalling that a further bullish movement can be expected on NZDUSD.
Reason for the trading strategy (technically):
Price has bounced up perfectly from our buying area previously and is on track to our profit target. We remain bullish above 0.6985 support (Fibonacci retracement, horizontal overlap support) for a further push up to 0.7092 resistance (Fibonacci extension, Fibonacci retracement, horizontal overlap resistance).
RSI (34) has made a really nice bullish exit signalling that a further bullish movement can be expected on NZDUSD.
