Dmitriy Chernovolov, Technical Analyst who has been actively following the FX markets for the last 11 years. He uses a systematic trend following approach combined with a proven money management system. Dima prefers to combine multiple technical analysis tools (e.g. Fibonacci retracements, trendlines, indicator divergences, Japanese candlesticks, Elliott Waves as well as horizontal support and resistance levels on different time-frame charts) to identify high probability synergetic trade setups with a high reward/risk ratio.

NZD/USD reached buy target 0.7400

  • NZD/USD reached buy target 0.7400
  • Next buy target - 0.7500

NZD/USD continues to rise sharply – following the earlier breakout of the resistance zone lying at the intersection of the resistance level 0.7400 (which was set as the buy target in our previous forecast for this currency pair) and the upper resistance trendline of the wide daily up channel from January.

The breakout of the aforementioned resistance zone greatly accelerated the active minor impulse wave 3 – which belongs to the intermediate (C)-wave from the end of May. NZD/USD is expected to rise further to the next buy target at the next resistance level 0.7500.

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