Expecting a bounce from area 91.2. if it did slip down the channel, then RIP LOL.
If it passed 92.5, then continues to 93.3 to create another lower low, or even break out? What you think?
D1 has formed a double bottom
Last Week it bounced when touching the channel bottom,
will it bounce and even make a break away or another lower low?
Let's see how it plays out.
Expecting a pullback before a continuation.
I know everybody is extremely bullish about this pair. But I have a biased bearish. The 4H and 1H RSI is quite overbought after it formed a "W" formation. It is expected to go down to the neckline before passing 1.2 resistance. What do you think?
Note:
Support line has broken this morning (4/11/2020), and price quickly rejected back to resistance shaping M formation, and failed, testing the neckline at Fibonacci level 0.5.
It pulled back up within 1H Time Frame testing the resistance level again, failed.
Now expecting the completion of M formation for the profit taking.
NZDUSD Daily RSI is overbought.
Previous resistance is accurately acting as in 0.618 Fib level correction, drawn from the first impulse in Oct 30.
Expecting a correction this week before an uptrend continuation.
Plus, DXY has made a double bottom.
Let's see how it plays out. What you think?
