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November 22, 2016 | Quick View Chart: NZD/USD Hourly…recovery?

Jack has over 20 years experience in the currency, equity, and futures arena. He is an investment advisor who has held key positions in brokerage, money management, trading, and research. Jack is founder and president of Black Swan Capital LLC. He was also founder of Ross International Asset Management (specializing in global stock, bond, and currency asset management for retail clients) and General Manager of Plexus Trading (specializing in currency futures and commodities trading).

[Last 0.7035]:  The NZD/USD daily chart is looking very interesting—symmetry suggesting at least another minor recovery is due before a big break lower.  The hourly setup tends to support the recover view with minimum target to 0.7144 (38.2% retrace); but with scope for more on the back of the rebound in key commodities. Below the hourly chart indicates a decent probability a five wave impulse sequence is complete at 0.6982; which also represent critical support near-term (daily momentum is flat and starting to work higher).  Near-term showing another push lower in minor Wave (b) of and expected correction higher.  Waiting for a turn in near-term momentum before pecking long…

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November 22nd, 2016

Posted In: Black Swan Currency Currents

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