swinging gold short I've labeled everything on the chart i am in the trade now, two days of very bearish candles right on strong resistance/ Fib line. i expect it to drop to the next Fib line/green trend line then retrace slightly i may add to my positions here. then down to the Final TP is market conditions are good. MACD crossover indicates Bearish momentum. a...
I think that the there is an option to go long on this pair in the short term. It is failing to break the S1 pivot support level, I'm predicting a TP @ the pivot level. Further MACD analysis confirms this and indicates a trend reversal. Good luck!
Hope you all enjoyed the Christmas break and are ready for another year of thrashing the markets.
NZD/USD is currently looking extremely bearish for the following reasons:
- Break of the neckline of the H&S, implying downside movement to 0.66150;
- Break of the trend line support from Jan to June lows;
- Break of the 200dma.
MACD and recent...