ZXY trade ideas
ZXY 31 October 202031 October 2020
ZXY is having a H&S Pattern?
We anticipate it to move lower in the next coming days.
Watch the resistance & support area for confirmation.
NZD Incoming Bearish Momentum?my favorite pair for short in the mid to long term is NZD... the index pattern sets up on a nice Head n shoulders... will be playing currency pairs based off this setup for NZD
Weekly Analysis AXY, ZXYThis two are similar in their movement. Aussie maybe slightly stronger.
NOTE:Truths
-Traders will do the same thing over and over again.
-In trading, no one to blame and no one to question what price did.
-Price can break any low/High because anything can happen.
If you fully allign your thinking in line with the truth about the market then you will win.
Look at the NZ dollar indexThe New Zealand dollar index is in a downtrend since January 2013 in order to say an increase, point 75 must be broken and a weekly closing above this resistance. As for the downward view, it is prevalent on this indicator. we are waiting for a break of the downtrend and reaching 68 points and making a false break with the August 17 interval and selling from this point we wait This point we watch.
NZD AnalysisI think if the price break the 65.3 level it may continue in his way to around 66.4 and 67.4
if he doesn't break it he will go down to around the 63.1 level especially RSI indicate to the buying saturation which means it will go down soon
ALSO, THERE ARE NOT IMPORTANT NEWS ON NZD THIS WEEK
ZXY IdeaWe expect ZXY to fall as to follow its channel, if ZXY breaks the major resistance then all the ZXY pairs could be bullish.
NZD Currency Index is at its Resistance.As we see, NZD Currency Index (ZXY) is at its Resistance or SBR (Support Becomes Resistance). Though there is no confirmation to what does the NZD Currency Index going, prepare yourself as it is a WEEKLY SBR.
Side way downin a few day if stochastic cross under red line
it time for make a short order
for higher resistance is may not yet allow to test
regards
ZXY: BEARLY Neutral Part Duex ZXY more Bearish than it's sister AXY, yet still in Neutral overall.
Price Action truncating hard Week of the 11th as Non-Commercials dump the Kiwi HARD.
ZXY will move to test the bottom of the Daily Chop Block @ 58.5 and potentially give us a new long-term direction.
Wait for test and break.
A 30% difference in short vs long positions is massive.
Should be noted that ZXY is currently around the .618 of the March 9 High, in a corrective retrace. .618 would signal some potent strength to the downside.
