Maybe just a pullback of the old trendline ? Or a bearish movement in coming ? Let's see !
I am not in the trade yet, since thhe pattern has both characteristics, that of a bat and that of a crab. If it's a Bearish Bat, I'll be waiting for thhe break of the blue full trend and my target will be the dotted trend. But, in thhe case of a break above the Resistannce level in blue. I'm expectinnng a Bearish Crab Formation before shorting. Trade with care (...
Nzd is gaining strength against the other currencies. a break of the trend line will signal a sell of to the 1.74 area. Shooting star giving us a good entry.
A LONG DROP AWAITS POUND KIWI. 1.66825 AND 1.63767 SUPPORT LEVELS.
PRICE BROKE FROM THE MAJOR SUPPORT TREND LINE. WAIT FOR PRICE TO JUST TOUCH THE 0.618 FIB IMPORTANT LEVEL (1.77927). PLACE A BUY AT 1.7700 WITH A STOP LOSS AT 1.77530. NO PROFIT TARGET. FOLLOW THE NEW TREND AND LET THE PIPS COME TO YOU.
PRICE TOUCHED THE 1.76114 LOW FOR A SECOND TIME. I AM ACTUALLY IN THIS TRADE. EXPECTING FOR PRICE TO START GOING UP AGAIN. GOV WHEELER HAS SOME IMPORTANT SPEECH THIS NIGHT. RSI IS COMPLETELY OVERSOLD.
GBPNZD looks to be working on the end of a 3rd wave down or possibly still inside structure marking the end of a fifth wave. Either way we would be looking for short term upside (in a correction) or long term upside (in a larger correction).
GBP/NZD Daily Moon - Long All Indicators set for lift off break of consolidation
GBPNZD has been working its way into a descending triangle for a while and should be coming to the end of it now. Descending triangles at the end of big extended rallies usually lead to a collapse in prices. We should a rally soon. Hopefully to the top of the triangle so we can get more pips as it breaks the overly tested area @ ~2.03400. The supply zone @...