fximperija
Short

#NZDUSD #Kiwi should break lower

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
After a steep rally into 8685 (tested 2 times) and broke on 3rd time, PA stopped @8735 (tested 2 times that level again) and broke on the 3rd time. NU reached the high @8791 with no strength to break 88. According to previous analogy if a bullish continuation is predicted a ret. to 8735 (perhaps twice again) and break higher on 3rd test of 88.

The 3TT rule (3 Time TrendLine Touch) says: correction lower after touching 3 times trend line in bullish or bearish rally. In 90% of cases of a 3TT PA corrected significant lower. This should be no exception. Should, but not necessarily has to be.
Sam0101
2 years ago
kiwi seems to reluctant to fall any further
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fximperija Sam0101
2 years ago
Seems so, but, NZ economy has no argument to sustain this Kiwi strength.
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Sam0101 fximperija
2 years ago
so it will has a correction before any uptrend continuation?
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fximperija Sam0101
2 years ago
A correction for sure, maybe even a significant drop before any bigger move to the upside.
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Sam0101 fximperija
2 years ago
yeah that what i think. Good luck !
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