NZDUSD profit target reached, prepare to turn bullish

7 December, 2016

Buy above 0.7091. Stop loss at 0.7065. Take profit at 0.7150.
Reason for the trading strategy (technically):

Price dropped perfectly and reached our profit target from yesterday. We turn bullish above 0.7091 support (Fibonacci retracement, ascending support, swing low support) for a push up to at least 0.7150.

Stochastic (21,5,3) is seeing major support at 21% where the previous 4 successful bounces occurred.


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