FOREX London Session Video February 8, 2008

Quite a few technical moves all throughout the London session on British Pound and Yen based pairs. However, we also were able to spot a developing triangle on NZD/USD late in the London session. In this video we show how we developed a trade plan in the room live prior to the triangle breakout. Part of this plan included projecting targets in both directions from the tightening triangle apex of the Kiwi/usd and simply awaiting the break. Although the ultimate target was not quite reached 15-45 pips was certainly achievable in this trade depending on entry/exit strategies.

Category:

Education

Tags:

• NZD/USD
• Kiwi
• Triangle
• breakout
• channel
• FX
• Bootcamp
• London
• Forex
• pivot

[ofInterestNZ]

And finally the Reserve Bank of New Zealand believes the New Zealand dollar could have risen much higher in recent months because of the sharp increase in New Zealand's interest rate advantage over other currencies. But its says timid speculators may have helped keep a lid on the Kiwi.

[nwsuccess]

Nice video! If price goes back to .8-.850 I would also look for a place to sell. This pair has been range bound for several months and that area would most likely attract a lot of professional selling.