NZDUSD- A Bearish Continuation
- NZDUSD is currently making LH and LL showing classic down trend.
- Last impulse move went from LH of 0.59930 to LL of 0.59396 a move of 53 pips.
- Since, price has retraced to 0.618 fibonacci value making LH of 0.59735 a move of 33 pips.
- No bearish divergence has been identified.
- Price has completely retraced to trend line making a bearish confluence.
- Possible bearish entry at 0.59600 a fib retracement of 0.382.
- Last impulse move went from LH of 0.59930 to LL of 0.59396 a move of 53 pips.
- Since, price has retraced to 0.618 fibonacci value making LH of 0.59735 a move of 33 pips.
- No bearish divergence has been identified.
- Price has completely retraced to trend line making a bearish confluence.
- Possible bearish entry at 0.59600 a fib retracement of 0.382.
Trade closed: stop reached:
Trend reversal underway