No surprise that the dollar has been strong over the last few months against the kiwi. Price has broken underneath a yearly support, and created a new resistance after test, It could still be a false break out, but if the price continues to drop this week, i believe we could see a nice 300 pip loss in the price of the kiwidollar. ***SIGNAL*** look for the next bearish engulfing candle on the 4hour or daily chart and go short with a Stop loss 10 pips above the new resistance channel.
As this being normal in the NZD, price could drop quick. Get in while you can to make sure you dont miss a fast 100 pip move
It went below the strong support of 0.68 and a lot of Buys' SL are triggered.
It seems like we are on the reversal mode for now and it should be able to see 0.688 level as strong resistants.
DO not short for now, it is better to wait at the higher significant level.
It went below the strong support of 0.68 and a lot of Buys' SL are triggered.
It seems like we are on the reversal mode for now and it should be able to see 0.688 level as strong resistants.
DO not short for now, it is better to wait at the higher significant level.