Kiwi - short
The Kiwi in 2020 has moved from a high of .6750 at the start of the year and a Covid low near .5450 in March 2020 ( which was beyond 3 standard deviation of price movement and considerably oversold) .
Price is recovering , with a 50% retracement of the recently weekly swing down.
The weekly area of horizontal resistance is around .6200 ( wrt sept 2019 and feb 2020) .
A short opportunity in the direction of the larger downtrend is considered
1. Entry - between horizontal resistance and the .618 fib retracement , around .6250
2. Stop - above a minor swing high at .6450
3. Target - towards the lows of march 2020 around .5600
4. RR = 3
Price is recovering , with a 50% retracement of the recently weekly swing down.
The weekly area of horizontal resistance is around .6200 ( wrt sept 2019 and feb 2020) .
A short opportunity in the direction of the larger downtrend is considered
1. Entry - between horizontal resistance and the .618 fib retracement , around .6250
2. Stop - above a minor swing high at .6450
3. Target - towards the lows of march 2020 around .5600
4. RR = 3
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.