NZDUSD On last pull back and then rebound to 0.6200
NZDUSD is testing the MA50 (1d) after a Support (1) rebound.
The Arc pattern looks like the one from March-April. Following a double MA50 (1d) breach, the price made one last pull back and then rebounded.
Trading Plan:
1. Buy on Support (1) again.
Targets:
1. 0.6200 (the 0.618 Fibonacci level, which was the May 11th high).
Tips:
1. The RSI (1d) is also highly correlated with the March-April sequence, indicating that we may be on the April 13th leg.
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Notes:
Past trading plan:
The Arc pattern looks like the one from March-April. Following a double MA50 (1d) breach, the price made one last pull back and then rebounded.
Trading Plan:
1. Buy on Support (1) again.
Targets:
1. 0.6200 (the 0.618 Fibonacci level, which was the May 11th high).
Tips:
1. The RSI (1d) is also highly correlated with the March-April sequence, indicating that we may be on the April 13th leg.
Please like, follow and comment!!
Notes:
Past trading plan:
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