fximperija
Short

#NZDUSD #Kiwi should break lower

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
After a steep rally into 8685 (tested 2 times) and broke on 3rd time, PA stopped @8735 (tested 2 times that level again) and broke on the 3rd time. NU reached the high @8791 with no strength to break 88. According to previous analogy if a bullish continuation is predicted a ret. to 8735 (perhaps twice again) and break higher on 3rd test of 88.

The 3TT rule (3 Time TrendLine Touch) says: correction lower after touching 3 times trend line in bullish or bearish rally. In 90% of cases of a 3TT PA corrected significant lower. This should be no exception. Should, but not necessarily has to be.

Comments

kiwi seems to reluctant to fall any further
Reply
fximperija Sam0101
Seems so, but, NZ economy has no argument to sustain this Kiwi strength.
Reply
Sam0101 fximperija
so it will has a correction before any uptrend continuation?
Reply
fximperija Sam0101
A correction for sure, maybe even a significant drop before any bigger move to the upside.
Reply
Sam0101 fximperija
yeah that what i think. Good luck !
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out