We have been waiting for this short for quite sometime. We're anticipating overall NZD weakness and looks like it will happen very soon. This would also mean we'd be bullish for EURNZD depending on which currency is the weakest.
I'll be breaking things down further and providing updates in the links below.
Good one, Wicktator! If you draw the upper trendline of the bullish correction wedge slightly differently - as in my attached chart - it works better as it shows a bounce up off the back-end of the trendline. Then there is 2nd bounce up off the back-end of the trendline, at 0.71000. Looking now for a potential Short off the 50% Fibo level at 0.72333, that coincides with a recent S+R level, and the bottom level of the upward-sloping channel.
faridrahimi
⋅
good
mustafacaqiida
⋅
pest analysis thanks for sharing
StewySongs
⋅
Great analysis. Thanks for sharing. 🙏✌🏻
loudon3
⋅
This morning, the Kiwi Dollar is now starting to short off, heading for 1st stop at 0.7100, the 61.8% Fibo projection level, confluent with an S+R zone there. Not clear at this stage whether it is then going to continue to go South, but in case it does I have added a couple of tentative Fibonacci projections at the 127.2% and 161.8% levels.
loudon3
⋅
Seems to be lining up for a Short on the Daily, off the confluence of the 38.2% Fibo, the back side of the ascending trendline, and the Flip Zone around 0.7240.