Weekly Bonus Technicals 3 January 2016

Weekly Bonus Analysis Video on NZDUSD ( 2 min  42 sec)

Hello everybody and happy new year … welcome to our first weekly bonus analysis video for 2016
I'm Stef Breschi and today is Sunday, the 3rd of January 2016
Before the Xmas holidays we took a look at the Kiwi dollar thinking there might be a good Xmas trade in it … and as we did take on a position we thought it appropriate to go over it today …
Daily chart: pre Xmas we talked about price trading inside a channel and that unless price retested the bottom of the channel, we would take a Long trade around 0.6550. It never happened and in fact as the market re-opened after Xmas there was a gap-up which in itself was a signal to go Long.
We were not in the market the first couple of sessions after Xmas day so we went Long higher up but with a 2 entry strategy hoping for a retracement which we got. So both our entries triggered and we are now Long hoping the recent momentum will be strong enough with renewed liquidity next week to break resistance around 0.6897 and make a push towards our target.
Weekly Chart: our target happens to also coincide with the level of significance showed by the market early last year.
Thank you for watching and once again Happy New Year to everyone!

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