The pair has rallied to the 50 fib retracement that also was the 50MA on D. Although the pair went above the resistance ( yellow line ), it closed the day below it printing an inverse hammer. All that makes me think that the pair is ready to continue its downtrade probably to the 1.673 area and maybe even lower to the 1.6625 area.
On the 4H chart we can see how the pair has also broken the weak recovery rally trendline.
On the 4H chart we can see how the pair has also broken the weak recovery rally trendline.
Comment:
Very nice movement. Trade still active. Just be mindful that there are important Chinese news on Monday at 10am Beijing time that might affect all the NZD and AUD pairs
Comment:
Great move, we were just short of our TP. I will monitor today and trail this pair.
Trade closed: target reached:
Boom! Beers on me!