NZDUSD: Longs in Play
We have one of the best trading opportunities right now for the majors in the NZDUSD. It traded in a range for more than a month, but now it broke the major long term resistance level. But the best thing is that the nearest long term resistance level is around 0.6913, so we have around 300 pips to find our trading opportunity. Please take a look at the next chart.
So here is my trading plan:
As long as the market keeps trading above 0.6583, I will be looking for long opportunities. My TP levels will be placed below the next resistance level around 0.6913.
All short opportunities will be ignored.