I expect price to continue upward at least to retest the last minor high. I still find the NZD to be relatively weak and the GBP strong enough to continue up the fork. ----------- Disclaimer: There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
I see this as a good play. If you're looking at horizontal support and resistance (hourly time frame), you'll see that 9757 (where it is now) is a spot of pretty good resistance. If it clear this resistance (which I think it will) I think your forecast will be dead on. Good Analysis
ForceFollower
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Thanks. :) Yeah, lots of multi-pivot lines, both horizontal and sloped. Thus lots of trading opportunities. :)
TradersClassroom
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How do you feel about the Kiwi later this week? NZD is expected to increase rates on Thursday (Wednesday for the US) by 25 points.
ForceFollower
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I think this interest rate rise may be already priced in by the markets. It will be no surprise to anyone.