We are facing a Head Shoulder Head Bearish pattern in OANDA:NZDUSD , same pattern that we are looking from TVC:ZXY On May 11th,2017 resistance, please wait until price level goes low to 0.72150 zone and jumps up to a PE level of 0.73450.
Please refer to TVC:ZXY graph!
For price entry, please refer to a MACD analysis...
Hey traders, I wanted to share some short bias on the kiwi for this week. There is clear trendline resistance coming up. If the trendline is broken, be careful trading the breakout as it may be the completion of wave-((B))-of-y. Cheers
Bias is toward the downside as we see the kiwi respecting a modified schiff through a potential final leg of an expanding triangle. If top resistance is broken, this bias will be re-evaluated. For now, target is near bottom trendline and bottom median line parallel.
NZDUSD has been cycling up and down from the 50% retrace of a June upswing, and is now in heading up again after finding support at 50%. Past price action shows a good probability of reaching the 0% line around 0.73
This current set of fibs was drawn July 7th using Weekly data and has highlighted a few tradeable entries over the past four months or so. This...