The 15-minute chart of NZD/USD on OANDA indicates a potential shorting opportunity following the completion of wave (a). The pair is expected to continue its downward movement towards the wave (c) target levels.
Key Levels:
Wave (b) Fibonacci Retracement:
0.618 (0.61518)
0.5 (0.61472)
Wave (c) Fibonacci Extension Targets:
1 (0.61158)
1.618 (0.60964)
Traders could consider entering short positions if the price retraces to the wave (b) Fibonacci levels, with targets around the 1.618 extension of wave (c). This strategy is suitable for those anticipating a continuation of the corrective wave pattern.
Key Levels:
Wave (b) Fibonacci Retracement:
0.618 (0.61518)
0.5 (0.61472)
Wave (c) Fibonacci Extension Targets:
1 (0.61158)
1.618 (0.60964)
Traders could consider entering short positions if the price retraces to the wave (b) Fibonacci levels, with targets around the 1.618 extension of wave (c). This strategy is suitable for those anticipating a continuation of the corrective wave pattern.
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.
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.