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NZDUSD – Longs in play

Last week I wrote about the strong positive correlation between the AUDUSD and the NZDUSD, and that there was something wrong because the AUDUSD was trading in a bullish market condition while the NZDUSD was trading in a range… well, guess what, the NZDUSD followed the AUDUSD:

NZDUSD

NZDUSD

The NZDUSD just broke both the short term and the long term resistance level triggering a bullish market condition. I’ll be looking for long opportunities, the next LT resistance level is at 0.7311

Trade Safe!

Raul Lopez
http://www.straightforex.com/

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This entry was posted on Tuesday, March 16th, 2010 at 11:10 pm and is filed under Technical. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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