By: Dima Chernovolov
I recently subscribed to Autochartist’s latest e-mail feature and received this trade opportunity alert this morning. Autochartist’s latest feature provides traders with a quick morning technical outlook of the markets.
NZD/USD recently broke down below the target level 0.8155 that was set for this pair in the following trade opportunity alert that we covered last Monday. After this alert was generated by Autochartist the pair continued to fall sharply down in the following few days – only correcting shortly up on Wednesday – before it fell sharply through the target level 0.8155 on Friday. NZD/USD is expected to fall further according to the next more recent alert for this currency pair.
As you can see from the following, more recent, trade opportunity alert that I received for this pair, NZD/USD recently broke another key support level 0.8170 identified by Autochartist on the 4-hour charts. The pair previously broke down through the cluster of the upward support trendlines (as you can see on the third chart below) – which should help accelerate the downward momentum toward the next sell target 0.7995 in the next 14 trading days.
The following daily NZD/USD chart shows the technical price levels mentioned above:
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