Sinex

NZDUSD Is A Sell: ABC Likely

Short
OANDA:NZDUSD   New Zealand Dollar / U.S. Dollar
This suggests that NZDUSD will continue further down. A difficult pattern to trade, ABC patterns tend to fool everyone,
bulls and bears by having two strong moves though choppy in themselves interjected by a counter move in the middle.
ABC are counter trend moves to blow off overbought or oversold conditions before resuming the larger trend, in this
case it is down.
Comment: Somehow the NZD is showing strength. It already blew past the sell signal on the 4hr and now it is on a buy signal in the 4hr.
Comment: There is the next sell signal. Daily looks to turn over. The hypothesis stays the same: this likely sees new lows.
Comment: Well not all signals can be profitable that is why we have stops.
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