Waiting for a weekly close...NZDUSD heading down

4 нояб. 2014 г.

I spotted a correction in NZDUSD, the pair has been trading sideways for a couple of weeks now, and in general the trend isn't strong in one particular direction, so I advise caution with this trade.

I'll re enter short after the next weekly close, since I've been stopped out by a sudden price increase.
Key levels are the green and red dotted lines, a breach of the green line's resistance would invalidate the setup for the time being.

Target is 0.745 initially.