InvestMate|NZD/USD Kiwi ready to fallðĨ
ðĨNZD/USD Kiwi ready to fall
ðĨThat's as I wrote in last posts. The dollar is ready to score an upward correction in the current downtrend.
ðĨIt's perfect because the exact same situation will happen on the New Zealand dollar but in the opposite direction
ðĨThis creates an ideal opportunity to make some profit on NZD/USD declines
ðĨLooking at the fact that we have passed a double top and the strength on the upside in recent weeks has dropped significantly I decided to establish a resistance zone at the tops.
ðĨI determined the support zone based on the fibo level of 0.5 of the whole upward wave. In which the price has repeatedly found support and also resistance.
ðĨThe scenario I'm playing out is the start of a decline with the aim of making a larger downward correction, taking into account small corrections along the way
ðĨ*Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario for further increases.
ðIf you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.ð
ðĨThat's as I wrote in last posts. The dollar is ready to score an upward correction in the current downtrend.
ðĨIt's perfect because the exact same situation will happen on the New Zealand dollar but in the opposite direction
ðĨThis creates an ideal opportunity to make some profit on NZD/USD declines
ðĨLooking at the fact that we have passed a double top and the strength on the upside in recent weeks has dropped significantly I decided to establish a resistance zone at the tops.
ðĨI determined the support zone based on the fibo level of 0.5 of the whole upward wave. In which the price has repeatedly found support and also resistance.
ðĨThe scenario I'm playing out is the start of a decline with the aim of making a larger downward correction, taking into account small corrections along the way
ðĨ*Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario for further increases.
ðIf you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.ð
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