the current trend is a down trendline and the price is moving in nice decent waves. if we do a back test you would see that the price will soon hit a strong area of resistance. we should be ready with a sell trade around this area that happens to be the 61% fib level.
We have entered short both NZD/USD and GBP/USD. There is strong momentum down on the daily. Previous bar candlestick has no tails meaning no buyers are willing to enter the market. Looking for a strong push to the downside.
We are seeing a reversal soon on the NZD/USD pair. Price has steadily climbed back up into resistance at 0.65229 and now a series or red bars are forming. Waiting for a long red candlestick pattern to break and close below 0.64229. Be patient traders.
