We are soon to see price fall into our gartley completion zone at the 786 mark. This area also confluences with a structure support which gives the opportunity to go long if the trend line remains respected. Execution will be based on a reversal candle being present, with targets and SL based off a trailing strategy. We believe it is very likely the NZD will reach greater highs in the coming days Good luck <3
Nice idea on NZDUSD and there may be bullish bias as you have you have identified. For our set up, we have identified the key resistance and support levels for the short term. The first support that we have identified is at 0.6843 (61.8% & 100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) Stochastic is approaching its support at 3.9% where a corresponding bounce could occur. If a bounce does occur, we may look at the 0.6895 resistance level (50% Fibonacci retracement, horizontal swing high resistance).
Please have a look at our idea and share with us what you think.
Please have a look at our idea and share with us what you think.