Possible next impulse for the New Zealand Dollar! After an impulsive wave that broke through previous structure and lower high point, the New Zealand Dollar has been going through a correction. Even though, we have been seeing bearish trending structure on the lower timeframes, if we zoom out then we can see that we are still trading between the previous higher...
NZD PAIRS TO DROP IN THE NEXT FEW WEEKS
NZD POTENIAL DROP - XXX/NZD MAY RISE IN PRICE
XXX/NZD pairs to rise as this chart drops
Ascending channel formed on the 1 hour and its breaking down to the downside for more continuation to the downside.
THIS IS MY TRADE BIAS BASED ON MY EXPERTISE. TRADES ARE USUALLY TAKEN ONCE COUNTER-TREND LINE IS BROKEN. IF PRICE CONTINUES TO GO IN SAME DIRECTION WITHOUT BREAKING COUNTER-TREND LINE TRADES WILL NOT BE VALIDATED/PLACED. I WILL NOT GO INTO GREAT DETAIL BESIDES THE FACT THAT I BELIEVE PRICE WILL GO IN THE DIRECTION OF MY DRAWN ARROWS. GOOD LUCK TO ALL! J MADRID
RSI OVERBOUGHT SHARK PATTERN TO BE COMPLETED LONG TERM RESISTANCE AREA - PINK LINES POSSIBLE BOUNCE OF NZD CURRENCY
The main trend seems to be bearish, with strong downward impulses. Since NZD bounced aggressively but I'm considering the move as corrective and I'm now looking for signs of reversal.