NZD/USD 16.07.2017
Our expectations: Medium term long trend. Price continue to push up and now its exactly on the horizontal resistance. The break up its not clear, but a move up will give us a signal for possible long. Long position for entry only after a clear break up and then a test of the break. SL: 0.72900
Alternative Scenario: If the price turns here and start heading down, then this will cancel the bullish scenario.
Comment: Current price is above both 50 and 200 SMA, which is confirming the up move.
After the comments from FED chair Janet Yellen, traders have started to think that 3rd hike this year is unlikely and this puts pressure on the USD and make riskier currencies like the NZD go up.
DEM (14) - The indicator is in the overbought zone, but it can remain there for a longer periods of time.
Trader - S. Fuchedzhiev
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