NZD rebounding from channel side
Updated
So NZD is not really a perfect buy right now - sloping channel and clear downtrend. However, there is some support for a bounce in early next week. For example, AUD and NZD often has some sort of correlation, and both look like jumping.
Trade:
- Channel bottom stopping momentum like has happened previously many times before.
- Stoch and RSI coming from super oversold.
- Light green line is slope from area before last impulse. It indicates where we should exit our trade (recurring pattern.
Trade:
- Channel bottom stopping momentum like has happened previously many times before.
- Stoch and RSI coming from super oversold.
- Light green line is slope from area before last impulse. It indicates where we should exit our trade (recurring pattern.
Note
Yeap, there was an impulse of retracement but NZD looks perhaps a bit too bearish right now.
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