NZD/USD 28 JUNE 2012

NZD/USD - follow me on twitter @fxdailyforecast and stocktwits.com/fxg

Price has reached 7950 during the Asian session as per analysis. Next resistance is up at 7980/8015.

FOR TODAY:

Today we will look for resumption of the rally to test 7980.We will look to buy after a dip and a bullish cs formation.

Shorts are considered if we get failure after hitting the 786 higher up, or while inside the A high

If we don’t get the set-up we are looking for then we don’t trade.

SHORT: Will be going short only IF:

We need a bearish cs formation after hitting the 786 which will initiate a short trade setup.  Place stops 13 pips above the cs formation, max 1 % risk.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

A dip followed by a bullish cs formation will initiate a long trade setup. Limits here can be around 7970/8000, Stops will be 10 pips below the cs formation.

If we don’t get the setup we are looking for then we don’t trade.