NZDUSD may have topped for now, and in the near term, as the price failed at a major resistance level at the all time record high 0.8842. The retest of that high wasn't supported by momentum, as MACD has been strongly divergent. A downside reversal could be at had, unless we break back above that high at 0.8842. which may signal a major bullish breakout. For now, my downside targets start at the 50-days SMA and 0.8543 static support level .
I have a bearish bias(mentality). that means i will always keep my mind looking for bearish signals over the lower time intervals, unless I see a major signal that negate this bias(such as a major bullish hammer candle at support).
Best of luck, join me at https://twitter.com/thefxchannel
I have a bearish bias(mentality). that means i will always keep my mind looking for bearish signals over the lower time intervals, unless I see a major signal that negate this bias(such as a major bullish hammer candle at support).
Best of luck, join me at https://twitter.com/thefxchannel
My trading ideas channel https://telegram.me/technician_forex_trades
https://thefxchannel.com
Skype: Technician - The forex channel
https://thefxchannel.com
Skype: Technician - The forex channel
It's a daily timeframe if it is what you're looking for.
Best Regards,
Serge
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