motleifaul

Uptrend, new high, test down (Fibo 38,2 %) completed. The trend may continue.

The monthly triangle could not be surpassed so that another test of the downside is lokely.

At least on the short run there is a chance for a retest of the upside.

This shall provide a support. The trend shall continue to rise or at least the market shall take a pause and look whether the upward trend is still valid.

Who wants may play a long position now for a correction of the fast drop. The trend is down however.

The rate failed to exceed the recent highs which may indicate a coming test to the downside and perhaps more.

We've passed the rising resistance and continue an upward correction. As the 38 % correction had been reached already we are facing the 50 % now.

The drop sinve October 4th has been retraced now so that the fall may continue now.

We are still below the cloud and very close to it. Thus I am expecting now another correcting attempt down.

Anyhow there seems to be some more room to the downside at least. Let's look whether it manages to fall below the declining former resistance line.

It took over 3 months to build a new high. Now we got it and may face more new highs.

Weare facing a resistance now after this sharp drop and I expect a profit taking, i.e. a retracement.

The bottom is holding and the rate is above a rising support. The previous risung support that had been broken may serve as a limitation of the speed of the rise however.

The rising support may let the Kiwi rise further in the existing uptrend.

...to the downside.

50% of the rise since April are retraced now. As the trend is intact we may expect a further rise.

The trend is just pausing and it seems that there is not enough pressure for a correction.

I am still aware that all we have seen meanwhile is a correction in an uptrend only. Medium term I don' doubt yet.