I am looking at building up a case to enter the market. There is an upward trend where the trend line has been hit on 4 occasions. The 86% fib is coming in at previous areas of support and resistance. The last 3 day candles have been short and the RSI is toward the oversold territory.
Reasons not to trade it: NZD showing weakness, Data coming out later today could be bullish for USD which could mean a break of the trend line.
Plan: to monitor and wait for all the news to come out today.
Reasons not to trade it: NZD showing weakness, Data coming out later today could be bullish for USD which could mean a break of the trend line.
Plan: to monitor and wait for all the news to come out today.