Perfect rejection of 50% fibonacci retracement level, bearish trendline starting to form
A lot of things indicating price will move to the downside, waiting for 38.2 fibonacci level rejection and trendline retest
Basic static support and resistance break and retest - after break of old support and new resistance
Price is at trendline support and static support, looking like a long position, going to see how price reacts to see if I trade or not
You can see price nicely rejecting the 0.500 fibonacci level, NZD/USD is already in a strong channel uptrend shown by 2 bullish trendlines TP target is the extension level of 1.500
You can see price nicely rejecting the 0.764 fibonacci level, this is more visible on H12 and H4 timeframes. EUR/NZD is already in a strong downtrend shown by 2 bearish trendlines, TP target is the extension level of 1.764, there is also a potential support level before the profit target is met which may result in an early close of the short position