Fiiyat

KIWI SHORT OPPORTUNITY NZD$

Short
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Good opportunity to short the Kiwi on a Fibonacci Retracement level of 50%.

There are both fundamental and technical indicators for this! Please check my previous analysis below for more details.

I have added a downward channel where price has so far achieved an ABCDE triangle pattern . Im not an expert on Elliot waves but my guess is a 3rd wave correction is about to end which will begin a 5 wave continuation!

Great shorting range for entry from 0.7824- 0.8000
Target 1 in a Demand Zone and also bottom of Trend line .

Best indicator to short will be obvious price Action so always wait for the candles to guide you. Stochastic and RSI indicating a sell opportunity!

Lets go!

Rodrigo