lmccormick
Short

Price action on the NZDUSD Monthly

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
94 2 1
Price is price, therefore monthly charts shouldn't be discounted. In recent months NZDUSD             has tried to push towards the 0.88 level. It has only ever achieved this once (according to MY charts), and that was back in 2011. This month, price has formed a nice looking BEOB             off this 0.88 level. Further, with huge divergence displaying on MACD , this illustrates a bearish outlook for this pair. I see FTA             at the 0.83 level. Nice and simple, watch this space!

Apologies, BEOB stands for Bearish Engulfing Bar. BUOB would stand for a Bullish Engulfing Bar.
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I give up: can't figure it out . . .
What's a BEOB ?
Thanks for your thoughts !!!!
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