CapMoore

Price at Strong Resistance Looking Higher

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
32 0 1
Price has hit the 61,8 Fib of the CD leg at 0,6840 and the
Yearly S2/SMA200 at 0,6850. Also close to previous high
at 0,69. This makes it a strong resistance level .

Because price is trading below Yearly S2, the bearish trend
is strong, even though PA from september and onwards has
shown significant recovery. On daily timeframe , trend is bullish
as is seen by price trading above the Kumo Cloud.

Note that the C-61,8D leg is less steep than the AB, showing
weakening momentum. IF price will fail here and reverse
the major scenario is a Butterfly Buy with D-level at 0,6050.

But if price instead moves above the resistance and close
above the previous high, we might see a continuation to at least
the D-level at 0,71 or perhaps an extension of the CD leg.
March 11 low stands at 0,7150.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out