Price making a double top at .71800 resistance level. Not making a higher higher - 4 hour showing bearish momentum. the MACD 4,9,3 breaking previous support level. RSI showing NZD is over bought and signaling a pull back. FIB retracement between ,5 and .618 levels 1:3 Risk/ Reward Please comment your thoughts.
May be premature at the moment, but if we see some bearish price action at the 0.6710 to 0.6725 area, it could be seen as a lower low and hence good area to go short
FX:NZDCHF GARTLEY Point B: 61.8% can not touch 78.6% XA Point C: 38.2% to 88.6% AB Point D: 78.6% XA 127% ext AB Target: TP1 38.2% AD TP2 61.8% AD BUTTERFLY Point B: 78.6% XA Point C: 38.2% AB 88.6% AB Point D 161% ext BC 261% ext BC Targets: TP1 61.8% CD TP2 127% CD Wait for divergence... ;) Safe Trades;
Hi, Throwing up another chart from my weekly analysis for any feedback. A double bottom has formed around the 0.64000 level and is rising. IMO if price breaks through the 0.66600 level resistance should occur at 0.68500. I believe this would be a chance for a reversal set up if a bearish candlestick pattern formed. Eg: High test. I would be looking to exit...
Stoploss: 1.5365 Profit Target :1.5220
The Reserve Bank today reduced the Official Cash Rate (OCR) by 25 basis points to 2.5 percent. particularly in China. Combined with increases in the labour supply from strong net immigration, posting a financial stability risk. CPI inflation is below the 1 to 3 percent target range,