FOREX Trade of the Day: Sell NZD/USD

Our YouTube video illustrates today's FOREX Trade of the Day and identifies further upside and downside price objectives.

Today's FOREX Trade of the Day was a short NZD/USD position.

Entry Sell:  0.7856
Exit   Buy:  0.7812

Notional Intraday Profit: +44 pips

Today's intraday High of 0.7857 was just above the 38.2% retracement of yesterday's Daily range, rendering the retracement level a profitable Entry Sell level.

Today's intraday Low of 0.7805 was below the 61.8% retracement level of the October intramonth range, rendering the retracement level a profitable Exit Buy level.


Look at the Monthly chart below to see how the current Monthly High is technically relevant to a historical range from 2009.

This is also evident on the Weekly chart below.

Upside targets include 0.7909, 0.7954, and 0.8122.

Downside targets include 0.7774 and 0.7521.

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