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itaskar
Feb 8, 2014 4:33 AM

rising wedge in trend long opportunity Long

British Pound/New Zealand DollarFXCM

Description

rising wedge, trendline still holds
Comments
itaskar
double bottom possible
ForceFollower
There's a multipivot line at around 1.963, that should act as support. Unless on Monday and Tuesday the pound is going to be stronger than the kiwi, this line may be hit first before it goes up. The last week ended with the kiwi being the strongest ccy, but the pound seems to be strengthening again, so it's a tough one to predict.
itaskar
if the trendline holds, there is also flag/pennant pattern possible and further continuation of downtrend, so watch the candles :)
itaskar
there is monthly hanging man..so this scenario is real
itaskar
Possible HAS reverse formation in 1H
itaskar
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