NZD/USD analysis of the week (4h candlesticks)

By IBTimes Staff Reporter | January 19 2010 5:05 AM

Our range has been broken from the bottom at the opening. 0.7365 was broken. Then, the bearish gap (as it is usually) has been filled in. So, we will now advise to trade only short positions as far as 0.74 is resistance on the parity NZD/USD. A new sell signal will be given if the super trend on a 4H timeframe become bearish. However, if 0.74 is broken, we will stay neutral between 0.74 and 0.7435. If 0.7435 is broken, a buy signal will be given.

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