1. AB should be 382 or 500 retracement of XA 2. BC can be either 382 or 886 retracement of AB 3. CD should be 886 retracement of XA Why I'm trading this pattern? You can look at the previous support and resistance on the daily chart
We can see the NZD/USD has not pushed through the 0.76 level the past two weeks. This technical analysis combined with the fundamental down turn of the dairy market have set up a trading opportunity to sell at the 0.76 level. The NZD/USD is overvalued at this current time and we should see the currency move towards the lower 0.72 region. Interest rates are...
Still very bearish despite the gain against the dollar in recent days I'm looking for that 0.76200 level to hold over the next day or so we should know shortly with an over 3:1 risk reward ratio and possibly more i see this being a good potential trade if you wait on stronger confirmation for an upcoming short
NZDUSD A MOVE TO 0.8100 (YEARLY PIVOT) ON A BREAKOUT OF TRENDLINE, PULL BACK AND CONTINUATION. ** Check out Dollar Index analysis and commentary
- Kumo Breakout on the weekly - Falling Wedge on the Weekly /Daily - Daily , Double Top confirming trend reversal - Daily Trend line broken - TK Cross over - Bearish Divergence - Falling wedge pattern, lower highs to the downside in confluence with key daily fib level
i've been following this pair on the hourly time frame for some time now, and notice some inconsistencies occurring, so i went to the higher time frame and saw this setup. currently the price is trading at a strong support level(support because i'm viewing the overall structure bullish trend) so if price break past this level, i'm looking for a reversal at the...