Forex Trade of the Day July 13th
NZDUSD – Impulsive in Strength
After forming two PBars making higher lows each time, the pair has gotten impulsive breaking 7000. From here it formed an upward sloping wedge which meandered into the 20ema to use it as support and launch again higher breaking the 1 month highs. These highs at 7150 become interim support and 7100 offers a really solid base for a move higher. We suspect higher ground as long as 7100 holds so gentle pullbacks to the 20ema can be used as entries to go long targeting 7345 and 7490.
If you would like to find simple high-probability trades using pivots and price action only, you can check out the Advanced Price Action or the ProForex Course which will teach you rule-based proprietary systems to trade these profitable setups.
If you have any questions about our courses, feel free to email me via the Contact Page and please make sure to comment below!
Want More? My private members get all my trade ideas & market commentary up to 3x per week. Click here to become a member.
Want to Learn Price Action Strategies for Trading Forex?
Sign Up for our Monthly Newsletter and Get our FREE E-Book