-600 Points Reached in NZD/USD Sell Signal

Reason for Selling NZD/USD : 

NZD/USD is moving up continuously for a long time without any retracements.

After market reaching the top level 0.73 we expect retracement from the top level. However, our analyst team wait for the confirmation of downward movement.

Finally, market breakout the bottom level in M30 Chart and it made a re-test at previous breakout level and starts to move down.

This is the reason for Selling NZD/USD.

But, After breakout happened at the bottom level, NZD/USD try to move up again for making correction.

USD becomes weaker in short time due to the speech of FOMC member Kaplan and Chicago FED president Evan.

This makes the market to keep moving up.

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Forexgdp Team.

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