NZD/USD 5 JULY 2012

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

Price consolidated yesterday, same as the last two days.

FOR TODAY:

We need price to retrace down to the 618/786 of this swing for a long trade setup. Shorts are not considered at present.

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

SHORT: Will be going short only IF:

No short setups according to the system, we don’t have the requirements in place. Stand aside.

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

LONG: Will be going long today only IF:

We need a retracement down to the 618/786 of this swing for a long trade setup. 100+ pips away at present.

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