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LLOYDS BANKING GROUP PLC ORD 10P, MX OIL PLC ORD 0.01P, VODAFONE GROUP PLC ORD USD0.20 20/21, FRONTERA RESOURCES CORPORATION ORD SHS USD0.00004 (DI), UK OIL & GAS PLC ORD 0.01P, UNION JACK OIL PLC ORD 0.025P
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we are shorting the NZD JPY , to continue this bearish trend
On the daily chart of NZDJPY, the price has started a new downtrend within a C wave of ABC zigzag. Breakdown of the latest fractal is our sell level.
Self Explanatory. Waiting on confirmation
By looking at the M TF i can see that the sentiment is indicating that this market is overbought, nevertheless i can also see on the 8 TF that LH and LL are being formed which suggests that this market has a chance of going lower. My target for this trade would be 76.000 to the next support area.
Clear rejection of recent breakout to the downside. 2 to 1 RR targeting recent swing low.
my usual analysis starts from higher timeframes such as the daily. There i've highlighted a key level of structure looking left, a resistance area that could stop the price's rally. As i go down on lower timeframe such as 4h i can see there are two tests of this specific level (also a psychological level, 79.00) both failing in making new highs. This ...
after being correct in predicting the upward move on this pair (see attachment) we took our profit near 83.00. Now i changed my mind, just watching price action. I'll explain you why.
Basically we are testing a strong resistance zone, both in the daily and in the weekly, therefore we could expect some strong resistance here. In addition to that, we also ...
Potential bearish move coming on FX:NZDJPY
daily resistance touched with bearish momentum, weekly r/s should be touched.. price should retrace itself.
NZDJPY Bearish resistance rejection at 74.800 level and should drop more. If price drops under 74 more shorts to be taken. rsi and stoch self explanotory
waiting to short