NZDUSD bearish?
Updated
A-B fib retracement shows the D finish in 61.8-78.6% area.
I expect price to fall into the 61.8-78.6% area of retracement C to D.
I am waiting to see if it is confirmed for further downside at this point, before making any further predictions.
I expect price to fall into the 61.8-78.6% area of retracement C to D.
I am waiting to see if it is confirmed for further downside at this point, before making any further predictions.
Comment
It has entered the highlighted area nicely, I would expect a short correction before further downisde. If in this trade, I would have removed risk by now and have quite high levels of profit protection. Another possibility would be to add further positions downside if price begins to drop aggressively.Disclaimer
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