Jnwsk
Short

NZDUSD ANALYSIS WEEK OF JULY 17, 2016

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
Looking on the Weekly chart price broke through the weekly resistance trend line. The week closed off with bears showing their mighty force. There are lower highs being made on the weekly so it is still on an uptrend but the last bear candle indicates it is in dire need to create another lower high. So lets see how we can use a double edge sword here.

Looking at the daily it made a nice double top. There is a nice trend line resistance. That seems like a wonderful area to go long. Lets go a little bit deeper.

On the 4H chart there is a potential Head and Shoulders forming. A good area to possibly short this would be 0.72000. Full confirmation would be break of the H&S neck which in turn will move price down to the 0.69000 area which can be the new weekly lower high created for its continuation trend up.
stream
4 months ago
after 3 rejective candles on daily no body will go short
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