Index down to about 141.76, then up. If this happens NZD/USD will first go up ( 0.7050 ), then long down ( 0.6510 ).
Bearish Bat pattern, gann resistance and fib resistance are showing that NZD has nowhere to go but down.
Hello, Very interesting developments right now in the NZX - it only recently seems to have recovered from the 2008 economic shock... and then this happens. Wave A was clearly defined and there are 5 sub-waves that are valid and meet all extensions / dimensions. Then things get a little complicated, Wave B seems to have taken the form of an expanding symmetrical...
Looks to be in a big corrective structure and just completed a 5 wave and correcting down. It broke out of fork and went down as I said when I posted it a while back. Could push up 1 more time but it looks to be in a corrective type pattern in fork. When that thing breaks out of bottom of fork should go down for a while
I will be looking for nzd to maybe go up a little more, but I see it selling off fairly soon. I would like to see it break out of fork and this current consolidation it has been making, and then sell off back into fork
GOOD LUCK New Zealand Dollar will be strong in future
NZX50 just published a very bearish candle. Gapping to the upside then moving lower in a day. Possible short opportunity but wait for confirmation. Price overbought according to indicators.
Looking at lower levels, good R:R even back to 20sma would be a nice 3:1 trade