Short 0.7298 Stop (Over Head) 0.7490 Target 0.6600
- Rising Neckline
- Trading at height of left shoulder
- (14) signalling diverging highs between left shoulder and right shoulder
- 61.8% Fib Retracement from Oct 13th Low
- 20MA under 50MA
- 8:00 AM GMT Nov 9th RBNZ Interest Rate Decision Consensus Rate Cut (Negative for NZD) (Adding to USD strength)
- Anticipated USD Rate Hike Dec 14th (Positive for USD) (Negative for NZDUSD )
I am anticipating a long term sell-off in $NZDUSD based on the above information.
Near term target 0.7100 (Neckline) However it is quite possible RBNZ decide not to cut rates in which case this idea will be closed.
Waiting for a pullback