In 4H time frame we have clear bearish move, which followed by bullish corrective move. price retraced to 50% area of Fibonacci ratio in corrective manner, price failing to create HH which base on Dow theory is the first signal for trend weakness.
for trading this pair at 6th of October if price manage to come lower than 0.69490 and remain below the EMA 144 in 15...
On 4-hour chart; Curve T3 turned negative just like ema9 and ema21 also gator is about to generate sell signal.. In the framework of all these indicators, I think there will be an downward price movement in #NZDUSD, as I mentioned in the chart..
Disclaimer: Please do your own due diligence when it comes to forex-trading.. Invest at your own risk..
I wish you...
Talking Point:
Technical Strategy: Bearish
Elliottwave View: Bear count confirmed
Analysis
From our last December's analysis on NZDUSD (New Zealand dollar vs US dollar), nothing much changed. We are on bear trend count and able to break and trade outside corrective channel. From last analysis and trade signal on which we earned +138 pips from shorting...
