NZDUSD - Further drop expected
Monthly & Weekly chart Price hit the 50% retracement level at 2017-07-03 after a huge move down started around 2014. After months of consolidating the price has now broke the structure and we are moving towards the low of October 2015 which was the end of the first big impulsive move to the downside and this is a huge demand zone.
Daily chart We have the 13, 21 and 55 EMA crossover which is very bearish.
We are looking for a possible retest of market structure and the bearish trend line to continue the down move.
Trading plan We will be looking for a sell opportunity around 0.66900 level if we get a clear bearish sign.
Daily chart We have the 13, 21 and 55 EMA crossover which is very bearish.
We are looking for a possible retest of market structure and the bearish trend line to continue the down move.
Trading plan We will be looking for a sell opportunity around 0.66900 level if we get a clear bearish sign.
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