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New Zealand Dollar / U.S. Dollar

NZDUSD Trade Opportunities

By CroomFX
Off the initial pull up from .69786, price rejected on the bearish trend line and pulled back to the .618 retracement level. We then had a 1:1 market ratio move up to the 1.272 ext. area at .73141 which gave us a ABCD pattern, then saw the market turn over. That push down from the extension level gave us our Cypher pattern opportunity when it broke the respected trend line and pass price at the B point. If we can see price make either a retest of structured support at .70702, or a push down to .70305 which would complete the Cypher, we could see price push up to the .382 level in confluence with the bearish trend line, or a stronger push to the highly acclaimed 2618 trade level in confluence with structured resistance .72587

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CroomFX

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