At the start of the year can see the price like an upper flat triangle; the pair
NZDUSD
is apparently filling an ascending wedge and now is not very clear their limits, but the indicators can help to see how in the next weeks or few days her upper limit will be defined.
The price was rejected in the past months from the 78.6 of fibo and then was started the ascending, the general idea is dancing inside the wedge and wait to the fall, the interesting point is independent of the formation, this will be fall into the 78.6 again. and maybe can be rejected (or not).
if see a monthly graph can see a very similar situation like the 1998/99, and then can expect two scenarios:
I prefer think in the first proposal: the stable formation. But only the time will say.
NZDUSD
is apparently filling an ascending wedge and now is not very clear their limits, but the indicators can help to see how in the next weeks or few days her upper limit will be defined. The price was rejected in the past months from the 78.6 of fibo and then was started the ascending, the general idea is dancing inside the wedge and wait to the fall, the interesting point is independent of the formation, this will be fall into the 78.6 again. and maybe can be rejected (or not).
- the price fall to 78.6 of fibo and expect the rebound for outperform the 61.8 and form a mega ascending wedge the next two years, or:
- the price fall and fall, and down, and down... Like the 1998 testing the 1 of fibo again in the historical minimums.
I prefer think in the first proposal: the stable formation. But only the time will say.
