FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Idea is based upon Elliott wave theory, supported by median line analysis. Fib extension ratio confluence is used for price projection (target placement). more info on the chart. Good luck
Hello, i was strongly bullish last month when price touched the 0.65 level. Now i think the time is over to expect a deeper correction. This pair should continue to fall after expected and INMINENT NZD rate cut and USD will recovery recovery for sure nexts days/weeks. But its tricky to find an entry point.
+1 Reply
HamzaLeith FullTimeTrader
Totally agree FulltimeTrader, this downwards momentum with both NZD and AUD has been amazingly strong! I expected to see a reversal from the 0.65 myself, but the USD perfromed very strongly against the NZD lately, I am now shifting my bias. Last weeks push upwards will make many retail traders go long, I don't trust it. Also, I have a bearish bias from a technical perspective on other NZD pairs as well, so that gives me enough confidence to short this one.
HamzaLeith CapnOscar
I don't know about that....I have a bearish bias for both NZD and AUD. Traders tend to call reversals too soon. I 'd rather not under estimate trend continuation.
CapnOscar HamzaLeith
I understand and agree with you but i used wrong wordin maybe it more like major correction to 382 fib... well we will see... thank you for the chart thou
HamzaLeith CapnOscar
Cheers mate, that 0.71 scenario is indeed the 0.382 Fib. But with the way price has been behaving the last 2-3 weeks, not sure if we are reaching it.
CapnOscar HamzaLeith
Cheers.. may the pips be wit you :-)
+1 Reply
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