There are still two pitchforks
in play. On the bullish
one price is heading for the median line
, whereas on the bearish
one price has broken through the upper median line
parallel. Is it going to follow the red fork or the blue one? Both currencies (NZD and CAD) have become weak and their relative strength
is quite equal. The long-term trend is still bearish
, but kiwi seems to have more vigor now. But as soon as it reaches the red dashed line, I'd expect another corrective down leg.
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