BLUE43

NZDUSD - ANOTHER LEG DOWN ? 0.5-0.618 GOING

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
177 6 30
...
Comment: comments will be welcome !! with chart better
I think I just went to every dam time frame to get a look on this pair..
top of weekly wedge. monthly resistance
.685 short term good look..
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There's heavy bearish divergence on the 1H, and what looks like a strong minor resistance level keeping prices down just under .7000. I'm still bullish MT on this, but I'm really focusing on the bearish divergence here for a short play. If prices do come down from where it is now, I'm going to watch it as it goes down the 3 levels in my chart. I'm really shooting for .69000 to be the bottom before it goes back up, but I'm looking at .68752 as a possibility. I think below that, my bullish bias is negated (if you look on the weekly chart, price broke out of a resistance level, and a possible retrace level is the .68752 level).
snapshot
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lawlee9 lawlee9
Actually, I agree with you on that lower price target. I see that ABCD pattern you have up with the black lines so long as the 61.8% fib holds on your chart.
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I think we are coming down hard if we do not break the 0.7053 high. I believe target would be around 0.6725 ish :)
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I think it might be coming back to the trend channel ;)
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