My indicators are suggesting we could be in the process of a BIG move south on this pair - potentially over 1200 pips. We already moved down 2000 pips from the last high back in the middle of May and I believe we could go lower. Maybe big swings though so I've taken a smaller position to accommodate a larger stop. In at 1.8052 STOP at 1.8317 and TAKE PROFIT at 1.7314
this pair to show some weakness in the near term to complete final corrective wave labeled as Y.
short position from current levels is backed up by Elliott waves analysis and a very important level Nzdusd has reached in today's session.
good luck
Sell opportunity present.
Oversold stochastics in the daily and 4HR chart. Additionally, there is an over-extension to the upside after price closed above the upper BB.
Bears to aim support levels at 1.71 and 1.68
Stop loss above 1.74
Hello Traders,
Technically, I expect the Kiwi to strengthen going forward. In the weekly and the daily chart, it is hard to ignore the sell signal with a bear divergence pattern in play. Also note that this week’s candlestick could be a confirmation of an Evening Star pattern at the shoulders of a Head and Shoulders pattern. Week ending October 23 ended as an...
