welcome to another signal!
Important: Wait for the Breakout of the channel and place a Buy-Limit-Order!
Target 1: 0.942 - 0.9429
Target 2: 0.9460
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Peace and good trades
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Sideway move with attempt to break out
healthy uptrend towards SR
AUD perform weakly against currencies.
NSD has power during lst weeks.
Need w8 for pullback
w8 for ending range and then long.
A major area of resistance a the 61.8 with a perfect engulfing pattern made on the day.
If you look on the higher time frames youll clearly see its on a down trend, and as everyone knows,
"THE TREND IS YOUR FRIEND" SL right about the Resistance area and TP and the 0.0.
0.9213 is important level for NZD to choose its direction
However, this zone is golden ratio of Fibonacci
If price continues making higher high and breaks out
then we will wait for pullback to buy
But, we will take this zone for our advantage to short NZD
Take Profits: 0.9050 / 0.8950
SL: would be at 0.9274. But price breaks out
and closes above ...
So NZD is not really a perfect buy right now - sloping channel and clear downtrend. However, there is some support for a bounce in early next week. For example, AUD and NZD often has some sort of correlation, and both look like jumping.
- Channel bottom stopping momentum like has happened previously many times before.
- Stoch and RSI coming from super ...