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 reversed from support zone

  • NZD/USD reversed from support zone
  • Next buy target - 0.7450

NZD/USD continues to rise inside the minor impulse wave (iii) – which started earlier – when the pair reversed up from the support zone lying between the pivotal support level support 0.7240 (which has been reversing the pair from August), the lower daily Bollinger Band and the 50% Fibonacci correction of the previous sharp upward impulse from July.

NZD/USD is expected to rise further in the active impulse waves (iii) and 3 toward the next buy target at the resistance level 0.7450 (which reversed the previous impulse wave (i) in September).

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