Scenario 1
It might be a correction on Monday where short term bullish movement (correction) likely to occur then follow by retest on trend line (blue line).
Scenario 2
The price may project lower to test on support (blue zone), and EMA 200, where buy limit order is place near Exponential Moving Average EMA 200.
Take note that Royal Bank of New Zealand (RBNZ) rate decision would be on 12-Aug @ 10am MYT.
Remarks from author
1)This analysis does not represent long or short trade immediately, it is solely on the author analysis
2)Trade at your own risk with proper lot sizing and follow your own trading plan
3)Risk management is always be the top priority
It might be a correction on Monday where short term bullish movement (correction) likely to occur then follow by retest on trend line (blue line).
Scenario 2
The price may project lower to test on support (blue zone), and EMA 200, where buy limit order is place near Exponential Moving Average EMA 200.
Take note that Royal Bank of New Zealand (RBNZ) rate decision would be on 12-Aug @ 10am MYT.
Remarks from author
1)This analysis does not represent long or short trade immediately, it is solely on the author analysis
2)Trade at your own risk with proper lot sizing and follow your own trading plan
3)Risk management is always be the top priority