As we can see, the moving averages are lined up nicely for a buy. Whenever the smallest moving average is on the bottom and so on and so fourth, it tends to indicate that the market is signaling a reversal to the upside. Just bored, on this Sunday morning so I'm trying to give my bias. Hopefully someone has a takeaway from this idea.
The market is looking pretty neutral for my favorite forex cross at this point. I honestly think is probably headed downwards, but there is always the likely hood of a quick reversal. I've lined up some support and resistance areas, and the possible directions the market could move in.
The chart speaks for itself, Anyone that trades this pair should know that NZD is about to drop down. People are recovering from a patriotic national holiday today, and our dollar will show its worth come Monday. Ride the wave folks
Interesting how this trend line fits so perfectly into the chart... we shall see! My risk reward is a little crazy because I am working with a small account but it may just pay off. If the price breaks formation on the 15 minute time frame I will close the order and begin to follow proper risk management. Best of luck to all who are long on gold. Hopefully she listens