I just entered right now at .0742 for the completed Shark pattern. Price seems to be stalling in this area and there is bearish divergence present on both the RSI and AO. The hourly AO just turned red as well for a little extra confluence.
I am only risking ~10 pips on this first try and targeting 0.6927 for a potential bullish 5-0 pattern. As per my strategy...
USD will move up to touch EMA, I think it's a good time to go long.
USD will move down in June as interest rates will be hiked until that time I expect dollar to keep going north. Unless, Trump will come up with some unexpected speech.
My previous plot was accurate while timing was slightly off, please check it:
Bias is toward the downside as we see the kiwi respecting a modified schiff through a potential final leg of an expanding triangle. If top resistance is broken, this bias will be re-evaluated. For now, target is near bottom trendline and bottom median line parallel.
June New Zealand dollar has created a mini head and shoulders, plus a bearish flag. USD was up sharply today. Looking for more gain on USD and possible fall of the NZD. Next downside target is 78.6 FIB, .6914. This would start to fill out the last bit of the Bearish BAT pattern.
FX:NZDUSD looks like it held well on the 0.719 support especially the possible crossover of the 50ma/200ma confirming the bottom. Will take a long position once markets open on Sunday night.
Preferred Entry: 0.7190-.7195
SL: 0.717
TP: 0.723-0.729
Any feedbacks are appreciated
New Zealand dollar has produced a tweezer top reversal pattern. Friday's rejection of higher prices suggests a lower price Monday. The USD has produced an evening star doji, which might produce one more push up to finalize that last shoulder of the H&D and then head down. NZD also produced a evening start reversal Tuesday indicating a reversal on Thursday.
Take care
& analyzed it again
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Aaron
