Is it rolling over or only correcting in order to make a new high next week? It's a tough question. We have seen three drives to the top and the trend line broken and then tested as resistance. This June rally still hasn't retraced by 38.2%, and yet it's in an up trend, and may be on it's way to 1.618 projection of the prior major swing up (market has paused at the 1.472 projection). The NZD has been relatively strong recently (though losing momentum), but the USD - not as weak as a week before. So a decline to the 0.382 retracement seems to be quite a likely scenario.
-----------
Disclaimer:
There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
-----------
Disclaimer:
There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
