NZDUSD TRADING PLAN
The Kiwi may finally break the parallel channel to the downside after almost 2-months of trying. However, price may initially retest the 0.67500 point (which coincides with the 78.6 fibo level) first because the pair currently appears to be overbought on the RSI, secondly as an immediate reaction to the Fed's interest rate decision.
This would mean the potential completion of the head and shoulders pattern, the head having already undershot the major bearish counter trend line. Also worthy of note is price which now sits below the 200 SMA
This would mean the potential completion of the head and shoulders pattern, the head having already undershot the major bearish counter trend line. Also worthy of note is price which now sits below the 200 SMA
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