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NZDUSD: Keep an Eye on These Two Levels
On March 10th, I discussed the breakout potential of NZDUSD. The multi-year wedge pattern was going to provide us with a breakout, one way or the other. The floor of that wedge extends from the 2000 lows with the ceiling coming off of the 2014 high. Hours after I wrote the March 10th post, I shorted the NZDUSD just above the 0.6300 handle. I shared this entry with Daily Price Action members in the NZDUSD forum. I followed that comment by stating that NZDUSD has 1,000+ pip (downside) potential, which I still believe to be true. I took a partial profit on the position last week when it was more than 600 pips in the ... (full story)