Chris Capre’s current live price action trades: AUDCAD, EURUSD, REMX, BIR, FXo EURJPY
NOTE: See how I made over +500 pips (+5R) using a simple trading strategy.
NZDUSD – Strong Attack On Major Resistance (Weekly chart)
Seven consecutive weeks of strong buying has taken the kiwi all the way back up to the major long term resistance zone (0.7340-0.7430).
The buying has been very consistent, showing a strong bullish imbalance in the order flow which likely will take some serious effort from the bears to stop or reverse.
If the resistance holds, there’s a good chance we’ll initially see a move back down IMO towards 0.72, whilst a strong break and close above the zone would put 0.7650 into focus.…... Keep reading