You can see price hit a 4H high and has dropped so we are expecting 70 pips of bearish movement before the next support area. We are placing SL just above these highs.
GBP has been eating steroids today and needs a break or a pullback so Jump on it quickly.
EURNZD Weekly outlook
Price has been bullish since late July with no major pullbacks. We did see some small areas of consolidation but nothing too major from the bears. We now have a triangle pattern forming with a key level highlighted in yellow. 2 plans on this:
- To be a bull in the pair ideally we would need a break of falling resistance and...
. There is a possibility of temporary retracement to suggested support line (1.04517). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. AUDNZD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support....
While the price is above the support 1.0275, resumption of uptrend is expected.
We make sure when the resistance at 1.0630 breaks.
If the support at 1.0275 is broken, the short-term forecast -resumption of uptrend- will be invalid.
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
Price is below...
24/05 NZD Negative LogicStrategy Flip - This is where the Logikfx scores shift from net positive to a net negative on NZD
28/06 USD Positive LogicStrategy Flip - Logikfx scores shift from net negative to net positive on USD
Hedge Funds Nets Long USD since 2018
24/06 NZD Negative COTA Flip - Hedge Funds positions...
. There is a possibility of temporary retracement to suggested support line (1.6815). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. EUR/NZD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.