There was a debate among traders in previous days on how NZDUSD will act as it was reaching a key resistance level. Looking at the chart we see that price didn't get to the resistance level although it came close and with a sharp impulsive move to the down it broke the trendline which acted as support to the upmove towards the key resistnace level.
A bearish divergence ith AO adds to our thought that NZDUSD is going south. Waht we should do now is wait for price to make a correction (might retrace at 0.618 fib level of the impulsive move which broke the support) and then go short.
This is my first idea in 2016.. I wish everybody a very happy new year,
John
A bearish divergence ith AO adds to our thought that NZDUSD is going south. Waht we should do now is wait for price to make a correction (might retrace at 0.618 fib level of the impulsive move which broke the support) and then go short.
This is my first idea in 2016.. I wish everybody a very happy new year,
John