Kiwi-USDollar Analysis 11.06
Kiwi-USDollar Analysis 11.06
Still a downtrend as prices/candles are below EMA200
Healthy Trend to the downside - Exceeds EMA20 but respected EMA50 (June and September 2018). It exceed EMA50 on Nov. 1 but there was a price rejection on Nov. 2 (Non Farm Payroll)
Broke out of Channel on Nov.1 and stayed out of the channel until the current date, Nov. 6.
Structure was invalidated - It did not create a lower low.
Price is now sitting on major support (Previous Resistance)
Recommendation: Sell Order
Take Profit: 0.64298 - Previous swing low.
Stop Loss: 0.67762 - Above the Major Support (Previous Resistance)
Risk- Reward Ratio: 1:2
Still a downtrend as prices/candles are below EMA200
Healthy Trend to the downside - Exceeds EMA20 but respected EMA50 (June and September 2018). It exceed EMA50 on Nov. 1 but there was a price rejection on Nov. 2 (Non Farm Payroll)
Broke out of Channel on Nov.1 and stayed out of the channel until the current date, Nov. 6.
Structure was invalidated - It did not create a lower low.
Price is now sitting on major support (Previous Resistance)
Recommendation: Sell Order
Take Profit: 0.64298 - Previous swing low.
Stop Loss: 0.67762 - Above the Major Support (Previous Resistance)
Risk- Reward Ratio: 1:2
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