Given the current DXY strength I am looking for price to test the sloping TL around .6920 and potentially long from here. If price breaks this .6920 level I will then watch for a test of the lower weekly Trend Line around .6750 and a bounce from this level back up to test the .7250 area.
Price broke the rising TL but has not properly retested it. So now that price has broken out of the current falling TL I am looking for a retest of resistance at 103.60 with potential for significant fall to follow.
Given the ongoing strength of the USD prior to FOMC, I anticipate NU falling to retest support at .7000.
However, assuming the hike has pretty much been priced in, I am expecting the USD to fall once the rate hike is announced and for NU to rise and retest the upper trendline of the channel it is currently in.
Price has been rejected by upper trendline on the weekly chart. Am looking for short back to 61.8 retracement level before continuing up. Just trying out harmonics so forgive me if not completely accurate:) Comments/suggestions appreciated. Thanks.
In an uptrend on the monthly, weekly and daily charts. I'm watching to see whether price breaks above the 61.8 to touch the upper weekly trendline or drops back to lower weekly TL before continuing up.
Price broke through the upper weekly trendline to hit the 61.8 retracement level on the monthly and has been rejected. There is significant bearish divergence and am watching for a potential fall to test lower weekly trendline.