NZDUSD: Conditional Short Setup
Updated
Hello friends,
We have hit the confluence of 38.2 Fibonacci retracement and the 1.618 extension for the latest bearish wave. The price was initially rejected. I will be looking to short ON a break below the neckline of minor double top formation at 0.6978. We can target 0.6900 as a first target on this trade, followed by 0.6830.
I will try my best to update this idea if the breakout completes.
Best
Technician
We have hit the confluence of 38.2 Fibonacci retracement and the 1.618 extension for the latest bearish wave. The price was initially rejected. I will be looking to short ON a break below the neckline of minor double top formation at 0.6978. We can target 0.6900 as a first target on this trade, followed by 0.6830.
I will try my best to update this idea if the breakout completes.
Best
Technician
Trade active
The price broke, short trade is active now.
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