Hello all,
The Pound New Zealand is showing signs of a retrace towards the 50% balancing area around 2.00979.
Supporting this idea is 1.An 89 Bar fib count from the high, 2. A possible retracing range repeat, 3. The 50% retracement level 2.00979 4. A "Very Shallow" median line just above the 50% retracement level indicating weakness, 5. Two reaction lines crossing around the 50% retracement level. I will be watching closely around the 2 vertical lines for a shorting opportunity should price reach this level.
Sincerely,
TIK
The Pound New Zealand is showing signs of a retrace towards the 50% balancing area around 2.00979.
Supporting this idea is 1.An 89 Bar fib count from the high, 2. A possible retracing range repeat, 3. The 50% retracement level 2.00979 4. A "Very Shallow" median line just above the 50% retracement level indicating weakness, 5. Two reaction lines crossing around the 50% retracement level. I will be watching closely around the 2 vertical lines for a shorting opportunity should price reach this level.
Sincerely,
TIK
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.