Price has made a nice correction up to the 50 fibonacci retracement after the last impulse move to the downside when the double top formation was made. Price has also showed a slow down of momentum, & the correction may be coming to an end. Ill be watching for a break of the counter trendline for confirmation of the next impulse move to the downside to occur for a new potential lower low of the current downtrend.
thanks for sharing! I have a different view on NZDUSD, if price breaks below the trend line, we could be seeing a further drop. Here's my view on NZDUSD:
Profound_Ambition
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@FXCM, Nice work, lets see which way price will break as it is being squeezed.