NZDUSD price breakout of the trendline, breaking the lower channel trend line. We have set two targets T1 and T2. Price has consistency resistance at 0.6690 which is previous range support. The next support price can find at 0.6500 level with plenty of demand waiting, the overall trend is bearish at the moment.
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🔸 Summary and...
Actually the entire area of upper 10ks was not much resistance in general. So breaking it didn't really mean too much. However there are some pretty big resistance here. L3 monthly camarilla level would mark it returning to the original range it fell from.
The Purple lines are the Monthly CPR and pivot point.
The blue line is an already twice tested downtrend...
look at the Stochastics, extreme overbought sell still in effect. Let me find the chart in the right timeframe.
My shorrts are nearing the Camirilla Pivots weekly R$ my trading plan is not disionary, I must take profits soon i think.
The SPX has showed short term weakness on the break below 3437.
Support now must hold at 3383 on the daily charts.
ST test of 3184-3100 is possible if 3383 breaks in the 2nd trading week of Sep.
The uptrend of the SPX is still valid in the longer term on the weekly and monthly charts.
read more on my blog...
Disclaimer: This is not financial advice
In high leverage trading your entry is a matter of life or death, you need to have patience and to not let fear of missing out drive you into opening rushed positions. Map out your trades in advance and wait for the right entry. Our aim is to capture quick & safe profits, not to predict the future, this is possible only...