NZD/USD 9 AUGUST 2012

PLEASE SEE MESSAGE AT THE TOP OF TODAY'S BLOG AND THE POLL ABOVE.

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

Price made a slightly lower low which we will use as the B low.

FOR TODAY:

We need to wait for a retracement up to the 618/786 of this swing for a short trade setup. A break of 8162 opens the upside to deeper retracements.

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

SHORT: Will be going short only IF:

We need to wait for a retracement up to the 618/786 of this swing for a short trade setup.

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

LONG: Will be going long today only IF:

No long trades since we are in the process of reversing on this pair, maybe only after a break of 8162 we can look for a retracement and a long entry – if it occurs.

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