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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 continues strong uptrend

  • NZD/USD continues strong uptrend
  • Next buy target - 0.7300

NZD/USD continues to rise inside the minor impulse wave 3 – which stared earlier – when the pair revered up from the support zone lying between the round support level 0.7000, 0.6980 (previous sell target), lower daily Bollinger Band and the 50% Fibonacci correction of the previous sharp upward price impulse 1 from the end of May.

The active minor impulse wave 3 belongs to the sharp intermediate impulse wave (C) from the end of May. NZD/USD is expected to rise further in the active impulse waves 3 and (C) toward the next buy target at the strong resistance level 0.7300 (which stopped earlier impulse wave 1 in July).

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