NZDUSD Short Opportunity
Hello traders !
Today we are going to analyse NZDUSD pair. As you can see in a chart,our overall bias are BEARISH but what can you see on 4H timeframe ?
We can see nice "Rising Wedge" pattern and also the Elliot Wave Theory. Price has already made its 5th wave and now we should expect ABC correction. I expect this correction reach our support level which is still not retested. This level also nicely fits with a 0.618 fibonacci level (also called the "golden ratio") and with 200 SMA. We can also see a divergence on RSI (10) which also indicates sell possibility.
After this I expect long move to our -0.272 fibonacci extension level but I will analyse this move later.
Thank y’all for reading this and good luck !
Today we are going to analyse NZDUSD pair. As you can see in a chart,our overall bias are BEARISH but what can you see on 4H timeframe ?
We can see nice "Rising Wedge" pattern and also the Elliot Wave Theory. Price has already made its 5th wave and now we should expect ABC correction. I expect this correction reach our support level which is still not retested. This level also nicely fits with a 0.618 fibonacci level (also called the "golden ratio") and with 200 SMA. We can also see a divergence on RSI (10) which also indicates sell possibility.
After this I expect long move to our -0.272 fibonacci extension level but I will analyse this move later.
Thank y’all for reading this and good luck !
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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.