About time NZD and AUD had a pullback? 4hr time frame nice rejection from 61.8 fib retrace. Previous Daily closed as a bearish candle (shooting star like)
0.6550 level acting as resistance - could be one to hold long term down to 0.642 meets with upwards TL and a retrace from the bullish run since 12th November.
If 4hr closes above highlighted yellow region, around 1.0120, big shooting star on 17th closed at 2 how's there is still strong momentum. Price has previously struggled to break and close above this highlighted region so lets see. if closes above set a buy in at 1.0130 onwards TP1 1.0160 based off FIB 27% and 1.0230 TP2 for approx 100pip move. Maybe wait and hold...
On the daily, shooting star to downside. weakness to break descending trend line. Fib tool price retracement to 61.8% and retest of trend line on the daily timeframe. Bearish engulfing candle and hanging man (or spinning top on the 4hr timeframe signaling downside possibility).
Lets retest the 1.1180 zone where we had 2 rejections (i.e. support levels...
UJ showing signs of weakness in the 4hr timeframe with price failing to close above 112.100. Pullback to 61.8fib? TGT 1 - 111.600 / TGT 2 - 111.300 before going higher. Confluence with upward trend line retest.
If price breaks 111.40 which has
proven to be resistance on the daily
then sell position is invalid.
Hanging man in this period of consolidation
sign of weakness and failure to break above
111.4. If candle close solid below 111.35
then sell position tgt 110