NZDUSD More Downside...
Looks like we're going to close today's session with a marabuzo.
We've retested the channel we've broken clean out and resumed original trend.
A close below 0.6314 would warrant a short to next support level 0.60840
We may also find a reversal pattern to the upside as part of a bigger picture AB=CD 0.6314 is 61.8% on Monthly TF
I'm monitoring this pair for either a continuation to downside or a reversal to 0.67740 to put in a new HH
A big channel on the Monthly TF shows the lower boundary to be around 0.5854 level so that's definitely a buy area for me. What's funny is that 0.5854 is the fib level that'll cancel the AB=CD move! so i'll have to just monitor PA around the level!
All ideal entries and targets are displayed on chart!
We've retested the channel we've broken clean out and resumed original trend.
A close below 0.6314 would warrant a short to next support level 0.60840
We may also find a reversal pattern to the upside as part of a bigger picture AB=CD 0.6314 is 61.8% on Monthly TF
I'm monitoring this pair for either a continuation to downside or a reversal to 0.67740 to put in a new HH
A big channel on the Monthly TF shows the lower boundary to be around 0.5854 level so that's definitely a buy area for me. What's funny is that 0.5854 is the fib level that'll cancel the AB=CD move! so i'll have to just monitor PA around the level!
All ideal entries and targets are displayed on chart!
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