6m 9s: Lenght

To Get Ross' Free Forex Update Analysis - Click Here: http://mytotalsupport.com/cpv/base.php?c=86&key=fd5d14f7ec45b14d31a944108238114b&ls=youtube&keyword=forex_pro&ad=A7JhEG23Y9g So, yesterday we saw the market into 0.7350, taking a short into 0.7350, currently sitting 77 pips of profit. We’ve seen a little bit more than that as it dipped down here into the 0.7240s into the green-shaded area at the bottom of this black box and the range. What I’d like to see today of course is the continuation lower for the NZDUSD. Now, I don’t know if it’ll do that or not, so protecting profit, but what I’d like to see now is for the breakdown. 0.7250, 0.7220 is the green-shaded area. Getting underneath there, we’ll look for further profit as it heads back down towards the mid to upper-0.7100s, this blue-shaded area just underneath the green zone. So, we need it to get through that green zone. Potentially it won’t do that today. We don’t have a lot of market motivators or news today to drive this lower here on the NZDUSD. The only real significant news we have today is out of Canada. So, I don’t know if we’ll get through the green zone today, but we’ll hold it over the weekend now that we’ve locked in profit and see if we can get it to go lower for the NZDUSD. Let’s head on over to the Australian versus the US Dollar [AUDUSD]. A couple of things we’ve been studying in the live Trade Room. First off, take it out to the weekly timeframe. Zoom it out one more time. Take a look at that long-term red trend line. That’s going to be important for us over the next couple of days and really could be over the next few weeks because it has been over the past several weeks. Zoom it way into the weekly timeframe. Four and now the fifth week. This is the fifth time coming up to challenge that red trend line, coming from the weekly timeframe. So, keep in mind that red trend line is very important right now for the AUDUSD. Take it back into the daily timeframe, zoom it out a little bit, and now you could see what’s been happening on the daily with that red trend line. Several times challenging it here, here, and now here we are again, challenging it yesterday and today. Actually over the past two days and today into the 0.7640-level. So, again, resistance here. Look back here, where this black triangle is. You see resistance at the blue zone, so we’re in that same area. Resistance. A historical resistance zone. The red trend line. So, for today, as long as it stays underneath that blue-shaded area, 0.7640, 0.7670, we would look for resistance and the potential reversal. Why? Because it’s done that before. Again, we don’t have any significant news out of Australia. No significant news out of the US to change the scenario to drive it through the blue-shaded area. Now, it could still do that, but the likelihood or the probability of that happening is historically unlikely without any significant news for the day today. So, that’s what we’re going to plan on. Resistance. Reversal. Maybe just intraday reversal, but short-term reversal, long-term reversal from the blue zone, back down towards 0.7590, 0.7570, the pink-shaded area as our next support or the orange-shaded area for the AUDUSD today. https://www.youtube.com/watch?v=A7JhEG23Y9g Disclaimer: This video is for general information only and is not intended to provide trading or investment advice or personal recommendations. Any information relating to past performance of an investment does not necessarily guarantee future performance. Forex Traders Daily including its analysts shall not be responsible for any loss that you incur, either directly or indirectly, arising from any investment based on any information in this video. Please remember derivatives and FX spot carries significant risks and may not be suitable for all investors. Losses can exceed your deposits.