Last week I wrote about the NZDUSD, but I only showed you the short term charts. Here is what I think about the NZDUSD long tern charts.
I use the long term charts do determine:
- Which currency pairs to trade?
- In what direction?
- When will I stop looking for trade opportunities?
Here is the daily chart:
To answer the questions above:
- It’s clear that the NZDUSD is trading in a bullish condition (got rejected from the bottom of the range)
- I’m going to look for long opportunities
- I’ll stop looking for long opportunities once it reaches 0.8226
What do you think?