Fun with Fibonacci!Fun with Fibonacci!
Fibo here, Fibo there, Fibonacci everywhere!
I have found the 0.382 level
important for change in trend.
lets see how it will works
CB
EURNZD Pending Bullish ABCD Pattern At Key LevelIn my previous post on EURNZD i posted the potential of a big move in the coming weeks. After the breakout price is in a consolidation and it's about to complete a bullish ABCD pattern with D point at the broken long term downtrend. This pattern has great chances to start this upcoming rally.
For my previous analysis on EURNZD click the link below this post..
(D) Good model. Stretching to R2 pivot in bullish channelRed MA (EMA50) has a positive slope; bullish. RSI, OBV, and MACD also indicating bullish action.
If looking to invest, at least let it retest EMA50. Obey your rules.
$CB (D) Healthy overall. As long as it holds near 114 or nearthe bottom of the bullish channel. OBV slowly diminishing and RSI has some room to find support. Recent bearish MACD xover while in a macro marginally bearish MACD trend. Even though SMA50 (Red MA) has a positive slope, prior signals warrant caution near term.
Let it pull back some. Discounts entries are ok. Be patient. Let others do the hard work first; with their money. So what if it fails support near 114. Risk management is paramount, thus confirm with your rules.
