NZDUSD Still bullish but be aware of the sell opportunity above.
The rebound we expected on NZDUSD came a little later than we expected two months ago (March 22, see chart below) but nonetheless it is being delivered now and the price is now very close to our medium-term target:
Since we observe though a shift on the Lower Highs trend-line of the long-term Channel Down, we decide to push the Target higher to 0.62600, which now represents the 0.786 Fibonacci retracement level and would be almost a +7.14% rise, similar to the July 14 2023 (Lower) High.
A 1D RSI Double Top would be a perfect sell entry signal like December 27 2023.
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Since we observe though a shift on the Lower Highs trend-line of the long-term Channel Down, we decide to push the Target higher to 0.62600, which now represents the 0.786 Fibonacci retracement level and would be almost a +7.14% rise, similar to the July 14 2023 (Lower) High.
A 1D RSI Double Top would be a perfect sell entry signal like December 27 2023.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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