NZDUSD - Expecting an impulsive drop soon...
Looking at next week risk events, we do not have any pre-planned events specifically for the Kiwi.
However, looking at the price development since mid June 2017, we have a strong bias that we will be seeing an impulsive bearish move real soon.
Here are my technical reasons -
1) Price has entered into an extreme region of 200% - 261.8% extension area;
2) Price has been inching higher, but losing momentum and strength - forming a diagonal structure; and
3) We are seeing a RSI divergence forming.
Combining these technical factors, I am expecting a dip in price towards 0.7080 area.
P.S. This is not a trade call, so plan your trade and trade your plan :)
However, looking at the price development since mid June 2017, we have a strong bias that we will be seeing an impulsive bearish move real soon.
Here are my technical reasons -
1) Price has entered into an extreme region of 200% - 261.8% extension area;
2) Price has been inching higher, but losing momentum and strength - forming a diagonal structure; and
3) We are seeing a RSI divergence forming.
Combining these technical factors, I am expecting a dip in price towards 0.7080 area.
P.S. This is not a trade call, so plan your trade and trade your plan :)
