$NZD v. $USD Eyes Geo's Off-Set Rule Rally | #kiwi #RBNZ $NZDUSD
Friends,
A bird's eye-view from the monthly chart offers a probable geometry-based play, as illustrated in the following monthly chart:
In essence, there are two levels to consider: A probable resistance and a lower support, based on simple structural analysis, and complemented by the Geo's own geometry rules.
STRUCTURAL ANALYSIS:
Very simply put, there are two kinds of resistance/support levels to consider in any structural analysis, one that is based on a horizontal (static) level where prior price action projects forward a probable S/R level, and one that is based on a sloping projection (dynamic), typically off of a geometric pattern, where the line is likely to impact price as a similar R/S level would, but along its forward projection.
In this particular chart, the upper price action will have to face both of these types of resistance, first at the projection of the smaller Geo's 1-3 Line (dynamic resistance line), as well as at a horizontal (static resistance line) zone corresponding to the same smaller Geo's price level of Point-4, consistent with the Geo's Off-Set Rule - This is at about 0.77000.
Following is the Weekly chart's view, illustrating this upper level:
The lower level offers a probable supportive floor, which consists of a speculative 1-4 Line (dynamic line of support, using the largest plot in black), as well as a historical static line near the 0.61590 level, as illustrated below:
OVERALL:
Interim rally is expected, as price may uncoil from a bearish pressure, now that RBNZ's decision passed. However, this is expected to be limited, as per above analysis.
Further analysis in smaller timeframes (typically H4 level) will serve to follow price action in finer resolution.
Best,
David Alcindor
Predictive Analysis & Forecasting
Durango, Colorado - USA
-----
Twitter:
@4xForecaster
LinkedIn:
David Alcindor
-----
.
A bird's eye-view from the monthly chart offers a probable geometry-based play, as illustrated in the following monthly chart:
In essence, there are two levels to consider: A probable resistance and a lower support, based on simple structural analysis, and complemented by the Geo's own geometry rules.
STRUCTURAL ANALYSIS:
Very simply put, there are two kinds of resistance/support levels to consider in any structural analysis, one that is based on a horizontal (static) level where prior price action projects forward a probable S/R level, and one that is based on a sloping projection (dynamic), typically off of a geometric pattern, where the line is likely to impact price as a similar R/S level would, but along its forward projection.
In this particular chart, the upper price action will have to face both of these types of resistance, first at the projection of the smaller Geo's 1-3 Line (dynamic resistance line), as well as at a horizontal (static resistance line) zone corresponding to the same smaller Geo's price level of Point-4, consistent with the Geo's Off-Set Rule - This is at about 0.77000.
Following is the Weekly chart's view, illustrating this upper level:
The lower level offers a probable supportive floor, which consists of a speculative 1-4 Line (dynamic line of support, using the largest plot in black), as well as a historical static line near the 0.61590 level, as illustrated below:
OVERALL:
Interim rally is expected, as price may uncoil from a bearish pressure, now that RBNZ's decision passed. However, this is expected to be limited, as per above analysis.
Further analysis in smaller timeframes (typically H4 level) will serve to follow price action in finer resolution.
Best,
David Alcindor
Predictive Analysis & Forecasting
Durango, Colorado - USA
-----
Twitter:
@4xForecaster
LinkedIn:
David Alcindor
-----
.