Similarly to the Swiss Franc in the other direction. Too many people are net short on this already. 73% of retail at the time of writing. Asset Managers are 68% Long so we will wait for data tonight.
Leveraged money has started to move short. But still favoring long.
The interesting date for the cycle is Monday. So a couple of days after that would make some...
Moving in Ascending Channel Pattern from last 6 Months.
RSI Printing Bearish Divergence.
If NZD Respects the Channel Formation, then It Might form Higher Low (Might test the 0.6450 Area)
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NZD-USD surged just as I predicted.
It has reached a confluence of resistance levels, however
A daily horizontal key level
And a massive channel resistance
The pair is overbought and will therefore fall
To retest mid-channel support
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This looks like a beautiful set up with rvi and price action blending perfectly price rising to a neckline and ema 89, looks very good to short on weakness. price has been consolidating under the neckline and looks ready to drop,
NZDJPY Short Opportunity
1) Price has been rejected twice from a descending trendline (daily timeframe)
2) Is in the top half of a 20+ days range
3) In the 4H timeframe; 2 fully descending candles have closed under the 200 MA
4) In the 1H timeframe; 9 period EMA is crossing the 21 MA to the downside
I wish BIG...
On weekly we can see accumulation below a significant level which suggest price will push further down.
On daily price can pull back up somewhat into last the last 2 days candles (where my red arrow starts) but eventually it will drop.
Hello Fellow Trader!
NZD/JPY advancing into the 70.00 resistance level for a possible distribution zone.
Must wait for a solid bearish candle reversal signal for optimal entry, or a solid candle close below the yellow trend line for NZD/JPY supporting entry.
- Price hugging above the 200 EMA
- Price holding above the 50 EMA
- Approaching 70.00...