New Zealand Dollar Current Technical Condition Similar to 2007

[akats]

Jamie – Has tested and held the 61.8% retracement of the rally from the October low and series of November lows from 9665 to 9690. Remember, the probability of a reversal increases with the beginning of a new month. Yesterday’s inside day at support offers a bullish setup (stop under 9687).

Jamie – Use the first day of the month as an opening range from which to play breakouts. That range is 13218-13025. An upside break targets the 50% retracement of the decline from the October high at 13435 and a downside break targets former resistance at 12875. Near term support for Sunday/Monday is 13120.

[ayushsrk]

i could not figure out this thing.Actually maybe this is about the advanced things of the forex .But I somewhat captured the play breakouts when I read the post.