Even though the FED announcement is coming up in a day, we should get enough time to play on the Kiwi. We have a few nice Fib Clusters which should provide support for a trend continuation move on the 1hr chart. I'll move my time-frame down to the 15min mark to see trend reversal signals and a positive break of the 10 EMA . Will look to close before Wednesday morning (any rate hike jitters!).
Will wait to see if there is any movement off each of the zones. Stochastic is shaping up nicely as well for a little bounce.
Wow-wee! I didn't expect the milk prices to hit the trend so badly! Still have another Fib cluster towards the 0.73 mark but looking like a change in trend. With the FED due tomorrow, best to leave it. The trade was never triggered so nothing lost, nothing gained. These things happen in trading.
Price is ignoring Fib clusters - could wait to see if price does bounce off 3rd Fib Cluster but with the FED fast approaching, it's best not to consider this potential trade.