31 October 2020
ZXY is having a H&S Pattern?
We anticipate it to move lower in the next coming days.
Watch the resistance & support area for confirmation.
my favorite pair for short in the mid to long term is NZD... the index pattern sets up on a nice Head n shoulders... will be playing currency pairs based off this setup for NZD
This two are similar in their movement. Aussie maybe slightly stronger.
NOTE:Truths
-Traders will do the same thing over and over again.
-In trading, no one to blame and no one to question what price did.
-Price can break any low/High because anything can happen.
If you fully allign your thinking in line with the truth about the market then you will win.
The New Zealand dollar index is in a downtrend since January 2013 in order to say an increase, point 75 must be broken and a weekly closing above this resistance. As for the downward view, it is prevalent on this indicator. we are waiting for a break of the downtrend and reaching 68 points and making a false break with the August 17 interval and selling from this...
I think if the price break the 65.3 level it may continue in his way to around 66.4 and 67.4
if he doesn't break it he will go down to around the 63.1 level especially RSI indicate to the buying saturation which means it will go down soon
ALSO, THERE ARE NOT IMPORTANT NEWS ON NZD THIS WEEK
