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: sell target - 0.7400

  • NZD/USD completed intermediate correction (2)
  • Next sell target - 0.7400


NZD/USD recently reversed down from the strong resistance zone surrounding the resistance level 0.7630 (which has been reversing the price from February), the upper daily Bollinger Band, the 61.8% Fibonacci Correction of the previous sharp intermediate impulse (5) and the resistance trendline of the daily down channel from last year (as you can see from the daily NZD/USD chart below). The last reversal from this resistance zone completed the second intermediate correction (2) of the active primary impulse ③ from March.


NZD/USD is likely to fall further inside the active intermediate impulse wave (3) toward the next sell target at the support level 0.7400 (which reversed the previous intermediate impulse (1)).

Scroll to top