Hello traders and welcome back as we are looking at the NZDUSD chart. As you can see we had a very nice sell off from Friday last week and in the last 24 hours we have been sideways. Price is at a strong support level and I have placed the Fibonacci tool on the chart. It would be great if this pulls back to the 61.8 price of 0.7260 however I do not think we will get that so I am looking to enter this trade at the 50% Fibonacci level at the price of 0.7250 I like this as we are at the half mark. I would look to take profit at the support take profit zone at the price of 0.7210. This is a nice 40 pip trade and if you look left of the chart you will see that after we make our entry it is a wide open space to our take profit zone.
Thank you traders and we will talk soon…….William