Hello Traders!
Similar to the NZDJPY, we are at a major resistance level at the 68.5.
On March 20 we broke this level, did a retest and fell another 800 pips to the downside which is a major drop.
At the 66.5 level we have our 61.8% Daily Retracement that aligns perfectly with the W pattern neckline.
I will be looking for bearish price action next week to enter a short trade setup.
If it does not happen, i will look to sell on the next resistance at 70.2.
Thank you :D
Similar to the NZDJPY, we are at a major resistance level at the 68.5.
On March 20 we broke this level, did a retest and fell another 800 pips to the downside which is a major drop.
At the 66.5 level we have our 61.8% Daily Retracement that aligns perfectly with the W pattern neckline.
I will be looking for bearish price action next week to enter a short trade setup.
If it does not happen, i will look to sell on the next resistance at 70.2.
Thank you :D