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Ometrading

38.2 fibonacci retracement+Triangle formation+MA200 rejection

Long
New Zealand Dollar / U.S. Dollar (OANDA:NZDUSD)  
Ometrading Updated   
OANDA:NZDUSD   New Zealand Dollar / U.S. Dollar
Trend Analysis Chart Patterns Elliott Wave NZD USD dollar breakout Bullish Patterns
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trendanalysis chartpattern elliottwaves nzd usd dollar breakout bullish
After a big bullish wave, price has been in a correction structure the last weeks. A triangle pattern has been formed with a 38.2 % fibonacci retracement. We could see an impulse this week to MA50. Then we have a breakout of it to validate the pattern.
Stay tuned!!
Comment:
Price is moving up till MA50. A break above the moving average would validate the pattern
Comment:
Breakout has occurred yesterday, Today, price is still above MA50. 1/3 of the trade has been close .
Comment:
We can expect a corrective structure till MA50 aprox to see a new bullish scenario
Comment:
Order has been closed on breakeven
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